In 2024, the average selling price of used vehicles came to around ****** U.S. dollars. In 2024, new automobiles and light trucks were on average almost ****** U.S. dollars more expensive than used light vehicles. The used car boom As the price for new vehicles has been increasing, more Americans are turning towards buying second-hand cars and light trucks. Buying new cars and light trucks is typically seen as a privilege that few may do often. Generally, used vehicle sales are on the rise in most countries. Thanks to ever-improving technology, automobiles may keep running for many years and remain in good condition. This allows the average age of light vehicles in operation in the United States to increase slowly. Although new cars are often seen as status symbols, vintage cars are also very popular in the United States, the main reason for this trend being aesthetic and cultural values.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average (CUUR0000SETA02) from Dec 1952 to Jun 2025 about used, trucks, vehicles, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Coupes and convertibles were the most expensive used car types in the United States as of February 2023, priced on average at around ****** and ****** U.S. dollars respectively. In contrast, used wagons and hatchbacks were more affordable, at an average of ****** and ****** U.S. dollars. The overall used vehicle average list price had been steadily rising between mid-year 2020 and mid-year 2022, but dipped in June 2023.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average (CUUS0000SETA02) from H1 1984 to H1 2025 about used, trucks, vehicles, urban, consumer, CPI, price index, indexes, price, and USA.

The average price of used electric vehicles remained well over the price for used hybrid and non-hybrid/electric cars in the United States in February 2023. That month, used EVs cost an estimated ****** U.S. dollars, over ****** U.S. dollars more than a used hybrid vehicle.

United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average was 183.77900 Index 1982-84=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average reached a record high of 216.87600 in February of 2022 and a record low of 20.00000 in March of 1956. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average - last updated from the United States Federal Reserve on July of 2025.

The average list price for used vehicles in the United States reached some ****** U.S. dollars in June 2023. This was a year-on-year decrease of around *** percent of the June 2022 average, which stood at under ****** U.S. dollars. Used cars recorded an overall increase in prices and a decrease in more affordable stocks as a consequence of the global chip shortage which put the automotive industry at a standstill, affecting the production of new vehicles.

United States Motor Vehicle Sales: Average Price: Used Vehicle data was reported at 8,786.000 USD in 2010. This records an increase from the previous number of 8,483.000 USD for 2009. United States Motor Vehicle Sales: Average Price: Used Vehicle data is updated yearly, averaging 8,130.000 USD from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 8,786.000 USD in 2010 and a record low of 5,857.000 USD in 1990. United States Motor Vehicle Sales: Average Price: Used Vehicle data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA004: Motor Vehicle Sales: Average Price.

Graph and download economic data for Consumer Price Index for All Urban Consumers: New and Used Motor Vehicles in U.S. City Average (CUUR0000SETA) from Jan 1993 to Jun 2025 about used, vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

Used Car Prices YoY in the United States increased to 6.30 percent in June from 4 percent in May of 2025. This dataset includes a chart with historical data for the United States Used Car Prices YoY.

Graph and download economic data for Average Maturity of Used Car Loans at Finance Companies, Amount of Finance Weighted (DISCONTINUED) (DTCTLVEUMNQ) from Q1 2008 to Q4 2024 about used, finance companies, financing, companies, finance, maturity, financial, average, vehicles, loans, and USA.

The metropolitan areas with the highest used car average selling prices in January 2022 were both located in Florida, with the West Palm Beach-Fort Pierce area recording an average price of close to ****** U.S. dollars. This was close to ***** U.S. dollars more than the national average.

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US Used Car Market Size 2025-2029

The us used car market size is forecast to increase by USD 40.2 billion at a CAGR of 4.3% between 2024 and 2029.

The used car market in the US exhibits robust growth, driven by the excellent value proposition that pre-owned vehicles offer to consumers. This market trend is further bolstered by the increasing penetration of online platforms dedicated to selling used cars, providing greater convenience and accessibility for buyers. However, the market faces regulatory challenges as stricter emission regulations limit the sale of non-compliant used cars, necessitating investments in upgrading inventory and adhering to regulatory frameworks. These hurdles, while significant, can be navigated through strategic partnerships with emission testing centers and ongoing investment in fleet modernization. Companies that effectively address these challenges and leverage the opportunities presented by the growing demand for used cars and the digital shift in sales channels will thrive in this dynamic market.

What will be the size of the US Used Car Market during the forecast period?

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In the dynamic used car market, consumers face various challenges such as car scams and fraudulent activities. To mitigate risks, car buyers turn to comprehensive car buying guides and car detailing services. A VIN number check is essential for vehicle identification and history assessment, while emissions testing ensures environmental compliance. Car sharing and subscription services offer flexible mobility solutions. Vehicle registration and title transfer processes can be streamlined through digital means, and car refurbishment and connected car technology enhance safety and convenience. Blind spot monitoring and adaptive cruise control are popular safety features, while collision avoidance systems and lane departure warning systems provide added protection. Used car logistics and online financing applications simplify the purchasing process, and extended warranties offer peace of mind. Wireless charging, smartphone integration, and vehicle diagnostics are essential features for modern cars. Sustainable mobility and car comparison tools cater to eco-conscious consumers, while car maintenance schedules and roadside assistance ensure long-term vehicle care. Remote vehicle inspection and car care tips help maintain a car's resale value, and car subscription services offer flexible ownership alternatives. Used car fraud prevention and vehicle identification technologies protect buyers from potential risks. Car safety ratings and vehicle identification numbers are crucial tools for informed decision-making.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. Distribution Channel3P channel salesOEM channel salesProductMid sizeFull sizeCompact sizeVendor TypeOrganizedUnorganizedFuel TypeDieselPetrolGeographyNorth AmericaUS

By Distribution Channel Insights

The 3p channel sales segment is estimated to witness significant growth during the forecast period.

The used car market in the US is a dynamic and significant sector, with numerous entities shaping its activity. Used car buyers continuously seek value, leading to a high demand for pre-owned vehicles. Search engine optimization and online advertising play crucial roles in connecting buyers with sellers, whether they're private parties or car dealerships. Wholesale car lots and auctions provide inventory for dealerships, ensuring a steady supply of used cars. Fleet vehicles, often traded in for newer models, contribute to the used car inventory. Maintenance records and vehicle history reports are essential for buyers, influencing their purchasing decisions. Safety features, infotainment systems, and driver assistance are increasingly desired in used cars, especially among budget-conscious consumers and luxury car buyers. Electric and hybrid vehicles are gaining popularity, driving the demand for used models in these categories. Car negotiation, fuel economy, and vehicle valuation are essential factors in used car selling. Digital marketing, including social media, mobile apps, and data analytics, helps sellers reach a wider audience. Certified pre-owned vehicles, reconditioned cars, and consignment sales offer buyers additional options and peace of mind. Car financing, vehicle inspections, and warranties are essential components of the used car buying process. Autonomous driving technology and car pricing trends continue to evolve, impacting the used car market. As the average ownership cycle shortens, the market will see an increase in the availability of used cars, making it an exciting and ever-changing landscape for both buyers and sellers.

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In 2023, golden used cars were the most affordable in the United States with an average price of ****** U.S. dollars, followed closely by silver-colored used cars at an average price of ****** U.S. dollars. That year, the ***** most affordable used car colors were within the price range of ****** and ****** U.S. dollars.

Used vehicles in the United States in 2022 were over double the price of used vehicles in January 1997. This was an increase of **** points compared to the price index recorded in 2021. This rapid price growth is partly due to a depletion in used vehicle inventory linked with the global chip shortage.

United States - Average Maturity of Used Car Loans at Finance Companies, Amount of Finance Weighted was 65.70000 Months in October of 2024, according to the United States Federal Reserve. Historically, United States - Average Maturity of Used Car Loans at Finance Companies, Amount of Finance Weighted reached a record high of 66.38000 in July of 2023 and a record low of 54.83000 in January of 2009. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Average Maturity of Used Car Loans at Finance Companies, Amount of Finance Weighted - last updated from the United States Federal Reserve on July of 2025.

The metropolitan area with the lowest used car average selling prices in January 2022 was located in Connecticut, recording an average price of close to 26,100 U.S. dollars. This was close to 4,700 U.S. dollars below the national average.

Sales of used light vehicles in the United States came to around **** million units in 2024. In the same period, approximately **** million new light trucks and automobiles were sold here. Declining availability of vehicles In the fourth quarter of 2024, about ***** million vehicles were in operation in the United States, an increase of around *** percent year-over-year. The rising demand for vehicles paired with an overall price inflation lead to a rise in new vehicle prices. In contrast, used vehicle prices slightly decreased. E-commerce: a solution for the bumpy road ahead? Financial reports have revealed how the outbreak of the coronavirus pandemic has triggered a shift in vehicle-buying behavior. With many consumer goods and services now bought online due to COVID-19, the automobile industry has also started to digitally integrate its services online to reach consumers with a preference for contactless test driving amid the global crisis. Several dealers and automobile companies had already begun to tap into online car sales before the pandemic, some of them being Carvana and Tesla.

The statistic represents the average price of new and used passenger cars sold and leased in the United States between 1990 and 2010. In 2000, a new vehicle had an average price of ****** U.S. dollars.

United States - Consumer Price Index for All Urban Wage Earners and Clerical Workers: Used Cars and Trucks in U.S. City Average was 184.55100 Index 1982-84=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Wage Earners and Clerical Workers: Used Cars and Trucks in U.S. City Average reached a record high of 218.28300 in February of 2022 and a record low of 20.00000 in March of 1956. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Wage Earners and Clerical Workers: Used Cars and Trucks in U.S. City Average - last updated from the United States Federal Reserve on July of 2025.