Total used-vehicle sales in March were down nearly 12% from one year ago according to Cox Automotive estimates. The seasonally adjusted annual rate, or SAAR, was 38 million in March, down from February’s revised 34 million, and down from March 2021’s hot pace of 43.1 million. Used retail sales were also lower in March, estimated to be down about 11% from last March.
Retail used-vehicle sales — the volume of vehicles sold via a dealership, thus removing private party sales — were also lower in March, estimated to be down about 11% from last March. The March used retail SAAR estimate was 20 million down from 18 million in February.