Used vehicle sales dropped a slight 1.6% in June, while prices were up 6% year-over-year, according to data from Cox Automotive.
Driving the news: Used retail sales started a slowing trend after a busy spring tax season in the data from Cox Automotive’s vAuto.
The numbers show that, following a slight rebound in May, June sales fell 1.9% month over month to less than 1.4 million for the first time since February.
By comparison, used sales peaked in March at above 1.6 million.
As sales have slowed: Used-vehicle prices remain elevated, with the average listing price at $27,027, up 0.4% from May’s price of $26,928.
Interestingly, this is the highest June price since 2023 and the highest price overall since July of that year.
On the CPO front: Certified pre-owned sales are running 2.1% ahead of the first six months of 2025, which comes after inventory constraints tied to fewer off-lease vehicles returning.
For June, CPO sales were 5% higher year-over-year, with 210,335 units sold.
Additionally, CPO sales are now 15.3% of retail used sales.
Regarding used EVs: Used EVs are seeing prices spike again due to another rise in demand as fuel prices jump back above $4, according to Recurrent and iSeeCars studies.
Recurrent noted a 5% increase in used EV prices since January, with models under $20,000 rising 9.4% and those between $30,000 and $40,000 up 6.5%.
Specifically, the 2023 Chevrolet Bolt EV increased 19.7% in the past six months to $21,204, and was taking 12 days to sell.
iSeeCars, meanwhile, reported a 7.4% increase in used EV prices in June year-over-year, with five EVs in the top 20 of used vehicles with the largest increases in prices, led by the Tesla X, which saw a $9,066 YOY increase.
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What they’re saying: “A shopper who delayed buying a used electric vehicle this spring may now face a noticeably higher price, even as the broader used car market remains flat or down,” said iSeeCars Executive Analyst Karl Brauer in a press release.
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