Combined sales into large rental, commercial and government buyers were up over 4% year over year in April.
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Sales are likely to be slightly less this spring selling season.
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But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
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At the end of March, the average listing price was $27,246, off record levels in December when it surpassed $28,000. The list price was down some from the end of February when it was a revised $27,609.
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The second quarter – especially April – will be the strongest part of the year for used vehicle sales and values, and then slow down but not crash.
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On a month-over-month basis, all major segments saw seasonally adjusted price declines, with pickups declining the most.
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Fleet share of total sales was 15% in March 2022, up nearly 2% from the March 2021 fleet share, but the number of vehicle sales remained down 11% year over year.
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Seasonally adjusted rates point to an inventory mix with more newer vehicles, which means fewer affordable options.
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Cox Automotive is forecasting a strong year for CPO at three million units, an increase year over year and above the record set in 2019.
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Combined sales into large rental, commercial, and government buyers were down 30% year over year in February. Sales into rental were down 52% YOY.
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