Now that tax refund season is over, it would seem that used vehicle inventories are once again swelling. According to analysts, there has been a rise in second-hand cars sticking around on dealer lots, with levels growing month on month from the beginning of April to the start of May.
Compared to May 2023, used car inventories in dealerships across the country have risen by six percent, with 2.27 million unsold vehicles remaining as of May 2, 2024. The used vehicles’ supply also increased to 46 days, representing a two percent increase from the month prior, but was the same as what was seen in 2023.
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