The ongoing used vehicle inventory challenge appeared to worsen last month.<\/p>\n\n\n\n
In a report released last week by Cox Automotive, analyzing vAuto data, the days of supply decreased by four days from February to 40 days. It is a 15 percent drop from March 2022.<\/p>\n\n\n\n
\u201cThe supply of used vehicles at dealerships is at its lowest point in our data, which goes back to 2019,\u201d said Cox Automotive Senior Economist Charlie Chesbroughv in a news release. \u201cFinding the right product at the right price is more challenging for buyers today.\u201d<\/p>\n\n\n\n
Inventory was even tighter for vehicles priced at the lower end. The report found days supply for vehicles less than $10,000 was at 29 days. There was a 34-day supply of vehicles priced between $10,000 and $15,000 and 37 for vehicles $20,000 to $35,000.<\/p>\n\n\n\n
The average listing price was $26,213, which was down slightly from February\u2019s $26,250.<\/p>\n\n\n\n
vAuto estimated the total unsold inventory at the end of March at 2.05 million.<\/p>\n\n\n\n
With the lack of inventory, sales were down in Mach. Cox reported sales decreased 4 percent compared to the same month in 2022.<\/p>\n\n\n\n
\u201cCompared to spring 2021, used-vehicle prices at retail have been relatively stable and trending downward,\u201d Chesbrough said. \u201cHowever, with tight inventory, still-high used-auto loan rates, and improving new-vehicle inventory, the used-vehicle market might be cooling off in the coming months.\u201d<\/p>\n\n\n\n
The average miles for a used vehicle in March was 71,208.<\/p>\n","protected":false},"excerpt":{"rendered":"The ongoing used vehicle inventory challenge appeared to worsen last month. In a report released last week by…\n","protected":false},"author":1,"featured_media":3329,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[28,3],"tags":[],"class_list":["post-3689","post","type-post","status-publish","format-standard","has-post-thumbnail","category-independent","category-industry","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/3689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/comments?post=3689"}],"version-history":[{"count":0,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/3689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media\/3329"}],"wp:attachment":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media?parent=3689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/categories?post=3689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/tags?post=3689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}