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The nation’s supply of used automobiles increased slightly in June as retail sales slowed, helping ease month-over-month price growth to a modest 0.4 percent after large early-year gains, according to Cox Automotive’s monthly used-car market analysis released on July 17.
Automotive dealers held 2.14 million used vehicles in inventory in June, which equates to 47 days’ worth of supply, Cox Automotive’s analysis of vAuto Live Market View data showed. That’s a 0.2 percent year-over-year increase and a 1 percent uptick from May, when dealerships held 2.12 million used cars and trucks at 45 days’ supply.
Used vehicle inventory hit a yearly low of 1.95 million vehicles and a 37-day supply in March due in large part to a surge in sales to 1.64 million vehicles for the month. The modest increase in supply in June is a boon to consumers, with sharp average price hikes seen since the start of the year easing for the first month of summer. …
Automotive dealers held 2.14 million used vehicles in inventory in June, which equates to 47 days’ worth of supply, Cox Automotive’s analysis of vAuto Live Market View data showed. That’s a 0.2 percent year-over-year increase and a 1 percent uptick from May, when dealerships held 2.12 million used cars and trucks at 45 days’ supply.
Used vehicle inventory hit a yearly low of 1.95 million vehicles and a 37-day supply in March due in large part to a surge in sales to 1.64 million vehicles for the month. The modest increase in supply in June is a boon to consumers, with sharp average price hikes seen since the start of the year easing for the first month of summer. …
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