Used vehicle demand soared in February.
The CarGurus Used Vehicle Demand Index increased more than 5 percent year-over-year in February.
“Used car demand had its strongest February in years, driven by value-focused shoppers choosing lightly used 2024 and 2025 models over new cars,” said Kevin Roberts, Director of Economic and Market Intelligence at CarGurus.
The demand pushed prices up, with the average listing price jumping from $27,800 in January to $28,200 in February. Vehicles priced between $15,000 and $25,000 made up more than 30 percent of the market.
CarGurus noted an increase in the used hybrid inventory in the past year. Used hybrids now make up 5.1 percent of the inventory, a 1 percent increase from February 2025. Used hybrid prices have increased from $33,100 to $35,700 in the past year.
The inventory of hybrids is increasing as gas prices surge due to conflict in the Middle East. The national average is up to $3.57 per gallon, a 59-cent increase in the last two weeks, according to AAA.
“With EV tax credits off the table, hybrids are becoming the go-to choice for both consumers and automakers as demand and selection are on the rise,” Roberts said. “If the uncertainty around gas prices continues, that growth could accelerate even more.”
