The number of used vehicles sold in the United States rose 16 percent from January to February, with inventories signaling a tightening of supply, according to automotive services company Cox Automotive.
“A total of 1.57 million used vehicles were sold at retail—from both franchised and independent dealers—during February, up 6 percent year-over-year,” the company said in a March 14 statement.
The year-over-year increase in February continued the trend from January when sales had also risen from 2024.
Scott Vanner, senior analyst of economic and industry insights at Cox, said that although used-vehicle sales usually increase from Janury to February, “this year’s 16% increase is the largest jump seen in recent years.”…