Used Car Sales Up 8% in January on 48 Days’ Supply
Cox Automotive announced U.S. franchised and independent dealers sold 1.4 million used vehicles in January, an 8% year-over-year improvement, while CPO unit sales were up by a scant 0.7%. Days’ supply of pre-owned units was 48 at the start of the month, down from 50 at the start of December.
Cox’s report is based on an analysis of vAuto Live Market View data. Sales of used vehicles by U.S. dealers remain on a downward trend following a peak of nearly 1.6 million units in July.
“Used retail vehicle sales usually rise this time of year,” said Cox Automotive Senior Analyst of Economic and Industry Insights Scott Vanner. “Although this year’s sales percentage increase exceeds last year’s, it is still below previous years.”
