- The average used car was listed for $27,235 in September – the highest average price since late 2022.
- Dealers have slightly higher supply than a month ago, which could help keep prices flatter through the fall.
The average used car was listed for $27,235 in September — the highest figure since the peak of COVID-19 pandemic shortages, according to data analyzed by Kelley Blue Book parent Cox Automotive.
Related: Is Now the Time to Buy, Sell, or Trade In a Car?
Prices, however, may not grow dramatically into autumn. Dealers ended September with a 49-day supply of used cars on average, which is five more than the month before. Supply and demand govern prices, so improving supply can help slow inflation.
Oldest, Least-Expensive Models Hardest to Find
- Dealers remain short on used cars priced under $15,000.
Ford, Chevrolet, Toyota, Honda, and Nissan remained the top-selling used-vehicle brands in September, accounting for over 49% of all retail used-vehicle sales.
The most affordable used vehicles remain the hardest kind to find. Dealers ended September with just a 34-day supply of cars listed at $15,000 or less.
Certified Pre-Owned Sales Increasing
- Certified pre-owned car sales were 10% higher than the year before.
Sales of Certified pre-owned (CPO) cars were up 10% year-over-year in September, though down 6% from August’s numbers. With automakers producing fewer affordable new cars, CPO cars can be a good way for Americans to get transportation with a warranty at a reasonable price.
