March used-vehicle inventory levels declined for the third straight month and were lower year over year, falling to the lowest level since at least 2019, when the current vAuto data sets begin, according to Cox Automotive’s analysis of vAuto Live Market View data released April 17.
Backed by healthy tax refunds and continued affordability challenges in the new-vehicle market, the used-vehicle sales pace improved in March in a seasonally normal pattern, resulting in tighter days’ supply. Average listing prices increased modestly from February.
Nationwide, dealers – both franchised and independent – had a total of 1.95 million used vehicles in stock in March. That figure is the lowest on record in the current data set, dating back to 2019, and is 5.9% lower than a year ago. Available inventory volume is about 8.3% lower compared to the 2.13 million available in February.
The retail used-vehicle sales pace was strong in March but down 2.9% from a year ago. Used retail sales volume in March is estimated at 1.62 million vehicles, up from the 1.37 million in February and at the highest level in a year. The daily sales pace in March was higher than in February by 7%.
March is typically the strongest month of the year for used-vehicle sales, and 2026 was no exception. While sales fell short of last year’s tariff-announcement-driven surge, March 2026 outperformed 2023 and 2024 and was in line with 2022 levels, when new-vehicle inventory was historically tight.
Demand remained healthy throughout March, likely supported by strong tax refunds, continued improvement in credit availability, and the strong value proposition of used vehicles relative to new.
The Cox Automotive days’ supply is based on the estimated daily retail sales rate for the most recent month. Days’ supply of used vehicles dropped to 37 in March, down two days year over year and lower by seven days from the revised February measure, as sales increased and volume declined to its lowest level on record. Supply remains constrained compared with recent years, and the days’ supply reading in March was the lowest since 2021.
The average used-vehicle listing price was $25,390, up less than 1% from a year earlier and 0.7% higher than the revised $25,209 recorded in February, a month-over-month increase consistent with typical March trends.
Price-conscious buyers have limited options for affordable used vehicles. Used cars priced below $15,000 continue to have low availability, with only 27 days’ supply, which is 11 days below the overall industry average.
The top five sellers of the month had an average price of $23,861, nearly 6% 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 nearly 51% of all used vehicles sold.
