Used Car Prices YoY in the United States decreased to 4 percent in May from 4.90 percent in April of 2025. This dataset includes a chart with historical data for the United States Used Car Prices YoY.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average (CUSR0000SETA02) from Jan 1953 to May 2025 about used, trucks, vehicles, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

In 2024, the average selling price of used vehicles came to around 28,400 U.S. dollars. In 2024, new automobiles and light trucks were on average almost 19,200 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.

Used Car Prices MoM in the United States decreased to -1.40 percent in May from 2.70 percent in April of 2025. This dataset includes a chart with historical data for the United States Used Car Prices MoM.

Coupes and convertibles were the most expensive used car types in the United States as of February 2023, priced on average at around 49,800 and 46,700 U.S. dollars respectively. In contrast, used wagons and hatchbacks were more affordable, at an average of 20,000 and 24,200 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.

Sales of used light vehicles in the United States came to around 39.2 million units in 2024. In the same period, approximately 15.8 million new light trucks and automobiles were sold here. Declining availability of vehicles In the fourth quarter of 2024, about 292.3 million vehicles were in operation in the United States, an increase of around 1.3 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.

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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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United States Manheim Used Vehicle Value Index: Price Change: MoM data was reported at 3.275 % in Apr 2025. This records an increase from the previous number of 2.655 % for Mar 2025. United States Manheim Used Vehicle Value Index: Price Change: MoM data is updated monthly, averaging 0.053 % from Feb 1997 (Median) to Apr 2025, with 339 observations. The data reached an all-time high of 9.462 % in May 2020 and a record low of -10.129 % in Apr 2020. United States Manheim Used Vehicle Value Index: Price Change: MoM data remains active status in CEIC and is reported by Manheim, Inc.. The data is categorized under Global Database’s United States – Table US.I116: Manheim Used Vehicle Value Index.

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 June of 2025.

Used car prices have been increasing across all vehicle age groups in Spain between 2021 and 2022, with used cars between 10 and 15 years old recording the steepest price inflation. This age group's average price was up 58.2 percent year-over-year, reaching around 7,900 euros in 2022. In contrast, cars between one and three years old reported a slower inflation, costing approximately 21,574 euros in 2022—23.3 percent more than in 2021.

Graph and download economic data for Consumer Price Index for All Urban Consumers: New and Used Motor Vehicles in U.S. City Average (CUSR0000SETA) from Jan 1993 to May 2025 about used, vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average from Jan 1953 to May 2025 about used, trucks, vehicles, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

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Used Car Market Size 2024-2028

The used car market size is forecast to increase by USD 857.1 billion, at a CAGR of 7.56% between 2023 and 2028.

The market is experiencing significant shifts, driven by intensifying competition leading to an increasing number of new car models and advanced technologies. This trend poses both opportunities and challenges for market participants. On the one hand, the influx of new models creates demand for used cars as consumers seek affordable alternatives. On the other hand, it also increases competition, potentially putting pressure on prices. Another key trend shaping the market is the growing popularity of car subscription services and car-sharing platforms. These innovative business models cater to consumers' changing preferences, offering flexibility and convenience. However, they also present challenges, such as managing inventory turnover and ensuring a consistent supply of well-maintained vehicles to maintain customer satisfaction.
To capitalize on these opportunities and navigate these challenges effectively, market players must stay informed about consumer trends and adapt their strategies accordingly. This includes offering competitive pricing, providing exceptional customer service, and leveraging technology to streamline operations and enhance the overall customer experience.

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

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The market continues to evolve, with dynamic market activities unfolding across various sectors. Certified Pre-Owned (CPO) vehicles, for instance, have gained significant traction, offering buyers peace of mind through rigorous inspections and warranties. Technological advancements, such as backup cameras, navigation systems, and repair history access, have become standard features, enhancing the consumer experience. Apple CarPlay and Android Auto integration, roadside assistance, power locks, automatic transmission, and climate control are now essential components, shaping buyer preferences. Wholesale auctions provide a platform for dealers to source inventory, influencing resale value trends. Safety ratings, fuel efficiency, and alternative fuels, including electric and hybrid vehicles, are increasingly critical factors in the decision-making process.

Title transfer, keyless entry, and remote start are other features that add value and convenience. Pre-owned vehicles with maintenance records, fuel type, and all-wheel drive (AWD) or rear-wheel drive (RWD) configurations, along with infotainment systems, lane departure warning, heated seats, and blind spot monitoring, cater to diverse consumer needs. The market's continuous evolution is reflected in the emergence of online car auctions and vehicle appraisal tools, allowing buyers to make informed decisions. Alloy wheels, manual transmission, and power windows are additional features that add value and appeal to used cars. Market dynamics remain in a state of flux, with consumer preferences, technological advancements, and regulatory changes shaping the landscape.

The market's ongoing evolution offers opportunities and challenges for stakeholders, necessitating constant adaptation and innovation.

How is this Used Car Industry segmented?

The used car industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Vehicle Type

  Compact car
  SUV
  Mid size


Channel

  Organized
  Unorganized


Fuel Type

  Petrol/Gasoline
  Diesel
  Electric/Hybrid


End User

  Individual Buyers
  Business/Fleet Operators


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Vehicle Type Insights

The compact car segment is estimated to witness significant growth during the forecast period.

The compact car segment in the market experiences significant activity and evolving trends. APAC and Europe lead the market with their large consumer bases and demand for personal mobility. Compact cars, positioned between subcompact and mid-size vehicles, offer increased specifications and ease of use in traffic-congested areas. Their fuel efficiency addresses the growing preference for eco-friendly transportation solutions and fluctuating fuel prices. Popular used compact cars include Fiat Panda and Volkswagen Golf in Europe. Electric vehicles (EVs) and hybrid alternatives also gain traction in this segment, driven by concerns over carbon emissions and

Used car prices in Germany have increased significantly since 2018, though 2023 saw a drop across some sales channel categories. Free trade vehicles recorded a decrease, with figures falling to around 15,700 euros in 2023. Prices of used cars sold through brand trading have always been historically higher. New and old Germany is a leader on the global car market, with car brands and production quality of long- standing. Volkswagen, Mercedes, and BMV are among the first of many names that come to mind. Consumers may therefore be motivated to buy new cars by various means of financing, considering it a good investment for the future. Of course, new car prices differ significantly compared to used vehicles, with a new car costing an average of around 44,630 euros in 2023. Prices had grown in recent years, both due to the far-reaching effects of COVID-19 restrictions on industrial production and the energy crisis following the beginning of the Russia-Ukraine war. Drivers looking to buy a car are faced with familiar cost-related decisions regarding whether they buy new or second-hand, but higher fuel prices across the board are an issue facing all vehicle owners. A market with a future The German used car market is expected to grow in the coming years, with around 114.6 billion U.S. dollars predicted for 2025. Besides potentially contributing to sustainability and environmental protection goals, selling used cars is a business going beyond Germany’s borders. For example, Poland was Germany’s leading second-hand vehicle market by far when compared to other European countries, with around 422.3 cars imported in 2023.

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India Used Car Market Size 2025-2029

The India used car market size is forecast to increase by USD 33.43 billion at a CAGR of 12.9% between 2024 and 2029.

The used car market presents a significant growth opportunity for businesses and investors alike, driven by several key factors. Firstly, the excellent value for money proposition of used cars continues to attract consumers, particularly in the current economic climate. This trend is further bolstered by the increasing preference for flexible mobility solutions, such as car subscription services, which offer the benefits of car ownership without long-term commitment. Furthermore, the emergence of car subscription services has added a new dimension to the market, offering flexibility and convenience to consumers. Another trend is the growing use of 3D printing in passenger car manufacturing, which offers benefits such as reduced production time and lower costs. However, this market is not without its challenges. The rise of e-commerce platforms and digital marketplaces has intensified competition, necessitating improved touchpoint management and customer experience to differentiate offerings.
Additionally, regulatory changes and evolving consumer expectations around vehicle safety and emissions standards pose ongoing challenges for market participants. To capitalize on opportunities and navigate these challenges effectively, companies must stay abreast of market trends, invest in digital transformation, and prioritize customer satisfaction.

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

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The used car market continues to evolve, driven by shifting consumer preferences and advancements in automotive technology. Buying a used car is a popular choice for many, with the process increasingly influenced by digital tools and data-driven insights. Safety features and connectivity are key considerations, as consumers seek assurance and convenience. Car advertising and marketing strategies reflect these trends, highlighting the benefits of pre-owned vehicles in the connected car ecosystem. Autonomous vehicle development and the rise of mobility solutions, such as car sharing services, further impact the market.
Hybrid car adoption continues to grow, contributing to changing depreciation rates and valuation dynamics. Repair and auction services remain essential components of the used car market, providing critical touchpoints in the customer journey. Overall, the used car market is a dynamic and evolving landscape, shaped by consumer needs, technological advancements, and industry trends. Diesel engines are losing favor due to environmental concerns and stricter regulations. EV charging stations and battery technology are advancing, with the Internet of Things (IoT) playing a significant role in optimizing charging and battery management.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Channel

  Offline
  Online


Vehicle Type

  Compact car
  Mid size
  SUV


Type

  Petrol
  Diesel
  Others


Geography

  India

By Channel Insights

The offline segment is estimated to witness significant growth during the forecast period. The used car market in the global context is characterized by the significant presence of offline channels, which accounted for the largest market share in 2024. These channels consist of dealership chains and OEM-affiliated dealerships. Offline channels offer various advantages, including safeguards and guarantees for the original seller, smooth vehicle ownership transfer through local government tie-ups, and transparency about timelines and fees. Organized used car companies often provide technical expertise and capital support to customers. Furthermore, they have partnerships with financiers to offer better financing options, including NBFCs. Consumer reports play a crucial role in the used car market, influencing consumer decisions through data analytics, car safety ratings, and personalized recommendations based on automotive technology, fuel efficiency, environmental concerns, hybrid vehicles, electric vehicles, and maintenance records.

Car auctions, used car warranties, and car loan options are essential aspects of the used car market. Car financing, vehicle maintenance, and car value are crucial factors for consumers in the used car market. The market is expected to grow due to the increasing demand for used cars, advancements in automotive technology, and the growing popularity of electric and hybrid vehicles.

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The Offline segment was valued at USD 23903.00 million in 2019 and showed a gradual increase during the

Used Car and Refurbished Car Market Outlook

The global market size for used and refurbished cars was valued at approximately USD 1.3 trillion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2032, reaching a projected value of around USD 2.3 trillion by 2032. This robust growth is driven by a combination of factors including increasing demand for affordable cars, technological advancements in car refurbishment, and the rising popularity of online sales channels.

One of the primary growth factors in the used and refurbished car market is the financial accessibility these vehicles offer. With new car prices soaring and consumer lending becoming more stringent, many buyers are shifting their focus to used cars as a cost-effective alternative. This trend is particularly pronounced in emerging markets where disposable incomes are rising, but consumers still remain price-sensitive. Additionally, the depreciation curve of new vehicles—where a new car can lose a significant portion of its value within the first few years—makes used cars an attractive option for value-conscious buyers.

Technological advancements in the refurbishment process are also significantly contributing to market growth. Modern refurbishment techniques allow for the restoration of vehicles to near-new conditions. This not only extends the lifespan of the vehicles but also enhances their reliability and performance. Advanced diagnostics, high-quality replacement parts, and specialized refurbishment processes ensure that used cars meet stringent quality standards, making them more appealing to potential buyers. Moreover, these advancements help in reducing the environmental impact of manufacturing new vehicles, thus appealing to eco-conscious consumers.

Another key driver is the growing influence of digital platforms in the automotive market. Online marketplaces and e-commerce platforms have simplified the process of buying and selling used cars. These platforms offer a wide range of options, transparent pricing, and detailed vehicle histories, thereby building consumer trust. Additionally, technological features such as virtual tours, 360-degree views, and AI-driven recommendations enhance the online buying experience, making it convenient and efficient for consumers. The integration of these platforms with financing and insurance services further streamlines the purchasing process, thereby boosting market growth.

Used Car Loans have become an integral part of the financial landscape within the used car market. As the demand for used vehicles rises, so does the need for accessible financing options. Used car loans provide consumers with the flexibility to purchase vehicles without the immediate financial burden of paying the full price upfront. These loans are particularly beneficial for first-time buyers and individuals with limited savings, allowing them to spread the cost over a manageable period. Financial institutions and online lenders have recognized this growing need and are offering competitive interest rates and flexible terms to attract potential buyers. The availability of used car loans is further driving the market, making vehicle ownership more attainable for a broader audience.

Regionally, the Asia Pacific market is expected to exhibit the highest growth rate, driven by expanding middle-class populations and rapid urbanization. North America and Europe also continue to be significant markets, with steady demand supported by well-established automotive industries and high vehicle ownership rates. Latin America and the Middle East & Africa, though smaller in market size, are witnessing increasing demand due to economic development and improving infrastructure. These regional dynamics collectively contribute to the overall growth of the used and refurbished car market.

Vehicle Type Analysis

In the used and refurbished car market, vehicle type is a crucial segment that significantly influences consumer choices and market dynamics. The segment is broadly divided into passenger cars and commercial vehicles. Passenger cars account for the majority share in the market. This dominance is attributed to the high demand for personal vehicles among individual consumers. Used passenger cars offer a cost-effective solution for families and individuals looking to own a vehicle without the financial burden of purchasing a brand-new car. Moreover, the availability of a wide variety of models and brands in the used car market prov

United States Manheim Used Vehicle Value Index: Price Change: YoY data was reported at 4.295 % in Apr 2025. This records an increase from the previous number of 0.396 % for Mar 2025. United States Manheim Used Vehicle Value Index: Price Change: YoY data is updated monthly, averaging 1.576 % from Jan 1998 (Median) to Apr 2025, with 328 observations. The data reached an all-time high of 53.010 % in Apr 2021 and a record low of -13.096 % in Dec 2022. United States Manheim Used Vehicle Value Index: Price Change: YoY data remains active status in CEIC and is reported by Manheim, Inc.. The data is categorized under Global Database’s United States – Table US.I116: Manheim Used Vehicle Value Index.

The Used Car Market size was valued at USD 1.76 trillion in 2023 and is projected to reach USD 2.66 trillion by 2032, exhibiting a CAGR of 6.1 % during the forecasts period. The Used Car Market entails the business of buying and selling second-hand cars which offer affordable options compared to brand-new cars. Some of the applications of the used car market include; offering cheap means of transport for individuals and firms during hard economic times or where specific models of cars are not being produced as new. Applications cover the zones of individual and business usage, adjusting to private cars, business fleets, and rental cars. Today’s trends in the market are the growing availability of online sources for purchasing used cars, the constantly growing popularity of certified pre-owned automobiles with warranties and inspection programs, and the increased demand for electric and hybrid used cars due to the advancing environmental consciousness and fairly affordable prices. However, with the change in customer preference towards value and sustainability, the upgraded category of the used car market experiences consistent growth with the factors of accessibility and availability of various models and brands across the world. Recent developments include: In June 2023, Jardine Cycle & Carriage Limited, the investment arm of Hong Kong-based Jardine Matheson collaborated with Southeast Asian car marketplace Carro. According to a joint statement by the companies, this collaboration will provide Carro with access to a broader selection of high-quality used cars while enabling Carro to improve Republic Auto's digital services and offerings. The alliance aims to strengthen both companies' positions in the market and enhance their customer experiences. , In August 2022, Lexus, a subsidiary of TOYOTA MOTOR CORPORATION, launched the Lexus Certified Programme in the Indian market. This strategic move by Lexus is geared towards providing current Lexus vehicle owners the avenue to secure an elevated resale valuation for their automobiles. Moreover, the initiative aims to augment the accessibility and affordability of Lexus models for prospective customers. By implementing this certified program, Lexus aims to amplify customer contentment while bolstering the brand's prominence within the Indian automotive sector. .

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.

This paper investigates whether the net benefits from owning a vehicle, proxied by annual miles driven, explain the price declines observed over a vehicle's life. We first model the household decision on how much to drive each of its vehicles. Then we empirically establish that variation in household annual miles across brands explains observed price declines. Furthermore, the effect of vehicle age on annual miles decisions (and consequently on market value) depends on household characteristics and the composition of the vehicle stock owned.