We are pleased to share the Cox Automotive Retail & Wholesale Used Vehicle Market Insights Report for 2024, an intriguing year for both new and used markets.
The 2024 edition highlights a strong first half for new vehicles, followed by a weaker second half, yet achieving over 1.2 million cars sold for the second year in a row.
Dealer-used inventory increased slightly, with demand outpacing supply, leading to a contraction in Market Days’ Supply. EV auction sales grew by 116.2%, with more growth expected in 2025.
If the new market’s trend continues, it will impact later-model used cars, though demand for older stock should keep prices high.
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