The Average New Car Costs $50K, So Americans Are Emptying Used Car Lots

Almost 1.62 million used vehicles were sold by retailers last month.
Used vehicle inventories at retailers have dropped to a multi-year low.
March ended with just 37 days’ worth of used vehicle inventory.

With new cars slipping further out of reach for many Americans these days, buyers are leaning harder on the used market. March delivered a sharp uptick in activity, and inventories across the country took a noticeable hit.

Last month, an estimated 1.62 million used vehicles changed hands through retailers in the US, up significantly from the 1.37 million recorded in February, according to Cox Automotive. March typically sets the pace for the year, so a strong showing is hardly unusual, though this figure still landed 2.9 percent below the same month last year. Even so, the daily sales rate climbed 7 percent month over month, reaching its highest point in the past year.

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None of this arrived out of nowhere. Sales had already shown strength the previous March, before the Trump administration introduced its widely debated reciprocal tariffs on imports from nearly every corner of the globe.

Used Car Sales March 2026

The Average New Car Costs $50K, So Americans Are Emptying Used Car Lots

Importantly, sales this March outperformed those in March 2023 and March 2024 and were on par with March 2022, when new-vehicle supplies were constrained by the Covid-19 pandemic and subsequent chip shortages, prompting many shoppers to turn to used cars instead.

As sales increased, used-vehicle inventory at franchised and independent dealers fell to 1.95 million. This is the lowest level since 2019 and marks a 5.9 percent drop from March last year. It is also down a notable 8.3 percent from the 2.13 million vehicles in inventory this past February.

Last month, supply of used vehicles fell to just 37 days, down 2 days from March 2025 and 7 days from February. This is also the lowest days’ supply since 2021, Cox Automotive reports. Overall, this marks the third consecutive monthly decline in inventory levels.

Monthly Used Vehicle Retail Data

Month	Inventory Volume	Days’ Supply	Sales	Avg. Listing Price
25 Mar	2,074,208	39	1,665,898	$25,206
25 Apr	2,141,613	42	1,526,075	$25,579
25 May	2,134,248	44	1,514,566	$25,398
25 Jun	2,138,660	46	1,398,910	$25,450
25 Jul	2,131,032	45	1,476,304	$25,397
25 Aug	2,098,568	42	1,550,823	$25,439
25 Sep	2,138,093	48	1,327,249	$25,783
25 Oct	2,186,513	49	1,396,327	$25,875
25 Nov	2,160,407	49	1,314,047	$25,875
25 Dec	2,229,143	52	1,324,195	$25,973
26 Jan	2,183,361	49	1,380,480	$25,570
26 Feb	2,127,602	44	1,366,032	$25,209
26 Mar	1,951,269	37	1,618,040	$25,390

SWIPE

With demand for used vehicles rising, prices also increased, albeit only slightly. The average listing price of a used vehicle was $25,390 in March, a small increase from $25,206 in February, but down from $25,570 in January. In general, average used car listing prices have remained remarkably stable over the past year, fluctuating only between a low of $25,206 and a peak of $25,973. That is nearly half the average transaction price of a new car, which is more than $50,000.

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