Used vehicle sales remain on pace for 35.8 million in 2023

Used vehicle sales were down slightly in September, according to new estimates from Cox Automotive.

Using vehicle registration data, Cox’ research found 3 million units were sold in September. That was 3.2 percent behind the August figure.

“Used retail vehicle sales have shown remarkable resilience this past summer and into the fall,” said Chris Frey, senior manager of Economic and Industry Insights at Cox Automotive. “Still, there are concerns. Consumer sentiment could decline further if any combination of higher interest rates, higher gas prices, a government shutdown, or expansion of existing international conflicts occurs, and any would likely be a drag on used retail vehicle sales.”

Retail used sales at dealerships were estimated at 1.58 million. It was a 3.6 percent decrease from the 1.6 million in August.

The annual pace for used sales is at 35.8 million. That is 700,000 ahead of September 2022. Retail used sales are on pace to finish at 19 million.

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