Used Car Sales Surge as Prices Hit Multi-Year Highs Amid New Car Affordability Crisis

Used vehicle sales surged in March, with retailers selling an estimated 1.62 million units—a 7% increase from February and the highest daily sales rate in the past year, according to Cox Automotive.

This figure, while 2.9% below March 2025, still outperformed sales in March 2023 and 2024, aligning with March 2022 levels when new-vehicle supplies were constrained by pandemic-related chip shortages. Demand has been building since the Trump administration’s reciprocal tariffs on global imports, which disrupted supply chains and shifted buyer preferences toward used vehicles.

Inventory levels hit a multi-year low, with used-vehicle stock at franchised and independent dealers falling to 1.95 million units in March. This represents a 5.9% drop from March 2025 and an 8.3% decline from February’s 2.13 million vehicles. Supply dwindled to just 37 days, down two days from March 2025 and seven days from February—the lowest level since 2021. It marks the third consecutive monthly decline in inventory.

Used Vehicle Retail Data: March 2026

Prices rise slightly as supply tightens

The average listing price for a used vehicle in March was $25,390, up from $25,206 in February but down from $25,570 in January. Over the past year, prices have remained relatively stable, fluctuating between a low of $25,206 and a peak of $25,973. This is nearly half the average transaction price of a new car, which exceeds $50,000.

Vehicles priced below $15,000 are in particularly short supply, with just 27 days of inventory—well below the industry average. The top five best-selling brands—Ford, Chevrolet, Toyota, Honda, and Nissan—accounted for nearly 51% of all used vehicles sold in March.