Used-vehicle inventory levels rose again at the start of November, surpassing the previous 2025 high set in October, according to Cox Automotive’s analysis of vAuto Live Market View data released Nov. 14.

Meanwhile, retail used-vehicle sales in October increased month-over-month compared to September, as the average used-vehicle listing price increased to $25,945, up from the revised $25,889 at the beginning of October and up 2% compared to the levels observed a year earlier.

Higher Inventory Still Remains Below 2019 Levels

Nationwide, dealers – both franchised and independent – had a total supply of 2.26 million used vehicles on their lots at the beginning of November. That figure was 1% higher than the revised 2.23 million in early October and is 3% higher than the same time last year.

Days’ supply is based on the estimated daily retail sales rate for the most recent 30-day period. Used vehicles had 48 days' supply at the start of November, down one day from the upwardly revised level at the beginning of October but up one day compared to the same time last year. 

Although the days’ supply remained above levels seen in the prior year, it remains constrained and below the levels observed in recent years, as well as in 2019.

Used Car Buyers See Good Purchasing Window

The retail used-vehicle sales pace was up over 3% month over month in the most recent 30-day period. Used retail sales reached 1.4 million vehicles in October, up from the 1.36 million reported in September.

 The October bump was most likely driven by what purchasers view as a favorable purchasing window, with factors such as improved credit access contributing alongside the used market’s strong value proposition, which offers more affordable alternatives than the new-car segment. Sales remain strong, up 2% compared to the previous year.

Scott Vanner, manager of economic and industry insights at Cox Automotive, noted in a news release: “After stabilizing from a September slowdown, sales trended higher in October, likely driven by buyers viewing this as a favorable purchasing window, with factors such as improved credit access and the used market’s value proposition contributing to the momentum.”

Buyers Still Seeking Lower-Priced Vehicles

The increase can mostly be attributed to an increase in the share of newer model years in the mix.

Price-conscious buyers have limited options for affordable used vehicles. Used cars priced below $15,000 continue to have low availability, with only 34 days’ supply, which is 14 days below the overall industry average. 

The top five sellers of the month were listed at an average price of $24,037, more than 7% below the average listing price for all used vehicles sold. Once again, Ford, Chevrolet, Toyota, Honda and Nissan were the top-selling brands, accounting for 50% of all used vehicles sold.