The average listing prices for used vehicles increased at the start of April as inventory was down, according to data from the Cox Automotive’s vAuto.
The average retail listing price was $25,540 at the start of the month. That was up 4 percent from the March price of $25,121.
The vAuto Live Market data shows the average mileage was 69,232.
The inventory on dealer lots was at 2.22 million, which was behind the March tally of 2.27 million. Inventory levels are ahead of April 2023.
The days of supply stood at 46 days.
Wholesale used vehicle prices are started to cool as April closes. After three weeks of modest gains, the market was up 0.05 percent this week, according to BlackBook’s weekly Market Insights.
“Signs of a spring market slowdown are emerging, as the overall market appreciated barely 0.05 percent last week, and the trucks and SUVs category saw a slight 0.02 percent dip,” BlackBook reported. “Additionally, the average auction conversion rate nationwide experienced a minor decrease, indicating that buyers are starting to proceed with more caution.”
The nine car segments increased in price by 0.21 percent or $34. Sports cars were up $94 (0.43 percent), full-size cars $67 (0.38 percent) and mid-size cars $54 (0.39 percent).
Seven of the 13 truck and SUV categories were down in price. Full-size vans dropped 1.67 percent or $369.
Small pickups gained $95 or 0.42 percent.
Conversion rates at auction dropped to 57 percent.
