Used Retail Vehicle Sales Increase in July

According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in July increased from June, rising by 27.6% month over month. A total of 1.6 million used vehicles were sold at retail – from both franchised and independent dealers – during July, up 16.5% year over year. Days’ supply for July was 41, down from a revised 53 days in June. [Check back in the Newsroom on Friday, August 16, for a full inventory report.]

 Monthly Used-Vehicle Retail Sales Volume

The CDK outage the industry experienced in mid-June has created much volatility in the reporting of sales and days’ supply across Cox Automotive’s data sets. In July, the impacts ended up likely inflating days’ supply levels and lowering sales, and that is now unwinding and showing large amounts of variability for those data series in the other direction.

“As anticipated, we are continuing to see the impacts of the sales and inventory reporting disruptions due to the CDK outage,” said Scott Vanner, senior analyst of Economic and Industry Insights at Cox Automotive. “July experienced a noticeable increase in used-vehicle sales, likely signaling a healthy used-vehicle retail market plus some recovery of lost sales from June.”

The retail used-vehicle sales estimates are based on observed unit changes tracked by vAuto, a Cox Automotive brand specializing in inventory management.

CPO Sales Volume Up in July

Both overall retail used-vehicle sales and sales of certified pre-owned (CPO) vehicles increased month over month in July, according to data reviewed by Cox Automotive. CPO sales in July were down 8.5%, or 19,566 fewer units, compared to July 2023. CPO sales last month are now estimated at 211,562, up from 208,699 in June, an increase of 1.5%. Year-to-date total CPO sales volume is below the level this time last year by 1.8%.