2.27 million used vehicles remain unsold on dealer lots at the beginning of May. Average used car price is 6 percent lower than it was last year. The slowdown in used-car sales comes after a poor performance in Spring. Now that tax refund season is over, it would seem that used vehicle inventories are once again swelling.
Read: New Car Prices Creep Back Up After Months of Hibernation The days’ supply metric is one of many used by analysts to gauge the health of the automotive market and measures the number of vehicles on dealer lots. More days of supply generally correlates with weaker demand for used cars. According to analysts at Cox Automotive, the slowdown in sales is not entirely unexpected. However, it comes off the back of a muted Spring bounce.
Source: Car News Wire (carnewswire.net)
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