Summary
U.S. dealers entered early December with the year’s highest used-vehicle inventory, while average asking prices edged down and retail demand stayed resilient. Stock levels rose for the fourth straight month, days’ supply held steady, and modest price easing helped support sales, though availability remained tight at the lowest price points.
By the numbers
- Inventory: 2.31 million used vehicles, up 6% year over year and 2% month over month.
- Days’ supply: 50 days, flat versus November and 2 days higher than a year ago.
- Average listing price: $25,730 in early December, down from November’s revised $25,947.
- Retail sales: 1.39 million in November (up 1.9% YoY and 2.3% MoM), vs. 1.36 million in October.
Segment dynamics
- Sub-$15,000 scarcity: 36-day supply, 14 days below the market average, indicating faster turnover and limited selection for budget shoppers.
- Brand concentration: Ford, Chevrolet, Toyota, Honda, and Nissan comprised 50% of used-vehicle sales.
- Top sellers’ pricing: The five top-selling used vehicles averaged $23,824, about 7% below the overall listing average, reflecting demand for value-oriented models.
What’s driving demand
The article reports that slightly lower used-vehicle prices, improved auto loan approval rates, and a stronger value proposition versus new vehicles supported recent sales gains, helping maintain momentum even as affordable inventory remained constrained.
Market context and outlook
Inventory has increased each month since late summer, reaching a new year-to-date high, yet remains tighter than in recent pre-2025 periods—especially in lower-priced segments. Steady days’ supply suggests balanced inflows and sales as the holiday season began. Whether price easing persists will depend on the pace of new inventory entering the market and how consumers respond to pricing and credit conditions into January.
