A higher number of used vehicles were sold across the United States at the retail level last month than a year back, with total sales for 2025 expected to breach 20 million units, according to automotive services company Cox Automotive.
“A total of 1.41 million used vehicles were sold at retail—from both franchised and independent dealers—during January, up 8 percent year-over-year,” the company said in a Feb. 14 statement. Scott Vanner, senior analyst of Economic and Industry Insights at Cox Automotive, said that “used retail vehicle sales usually rise this time of year. Although this year’s sales percentage increase exceeds last year’s, it is still below previous years.”
At the beginning of January, there were 48 days’ worth of supply of used vehicles, down two days from December.
Cox is forecasting retail used vehicle sales to hit 20.1 million units this year, up marginally by around 1.2 percent compared to last year.
“Sales growth is expected to remain muted, as retail and wholesale supply will continue to be constrained in the coming year due to lower production during the pandemic and fewer lease maturities returning to the market,” it said. […]
— Read More: www.theepochtimes.com
