09/28/2020

Used-Vehicle Supply Low, But Stabilizing

Source: Fleet Management Weekly

The inventory of unsold used vehicles remains low but appears to be somewhat stabilizing in contrast to new-vehicle inventory that continues to fall, according to a Cox Automotive analysis of vAuto Available Inventory data.

The total U.S. supply of unsold used vehicles stood at 2.16 million vehicles at the start of this week. That is the lowest level in years and compares with 2.67 million vehicles in the same week a year ago. As a result, the national days’ supply of unsold used vehicles is around 33, down from 43 a year ago, which is closer to the traditional average. The days’ supply has been hovering in the 32 to 35 range since mid-June.

The shortages are primarily across the board with mainstream brands. Toyota again had the lowest inventory of used vehicles closely followed by Lexus and Ram. All had under a 30 days’ supply.

Read the article at Cox Automotive.