Used-Car Shoppers Are In Luck: Inventory is up and prices are down

Hi Larry,

Cars.com today released its May Industry Insights Report
<https://www.cars.com/articles/may-new-car-sales-boost-used-car-inventory-dropping-used-car-prices-7-to-28861-according-to-cars-commerce-may-industry-insights-report-485283/>,
revealing good news for used car shoppers: inventory is improving, with
lower prices and less mileage on vehicles.

Stronger new-car sales, fueled by seasonal promotions like Memorial Day,
are creating a ripple effect in the used-car market. As more new cars are
sold, trade-ins increase, boosting used-car inventory and driving prices
down

Key May Market Highlights:

   -

   Inventory increased 4% month-over-month, driven by trade-ins from strong
   new-car sales.
   -

   The average used-car price dropped 7% year-over-year to $28,861.
   -

   Used EVs saw a price decrease of 19% year-over-year.
   -

   New-car sales rate hit 15.9 million in May, the highest in 2024.
   -

   Increased interest in EVs, with searches up 17% for new and 55% for used.
   -

   Inventory reached its highest level since December 2020 (2.32 million
   vehicles).


Please let me know if you have any interest in speaking with Rebecca
Lindland, senior director of industry data and insights, or if youâ€™re
working on something that Cars.com could assist with.

See HERE <https://www.carscommerce.inc/insights-report/> for the full
report.

Also, next week, Cars.com is launching its 19th annual American-Made Index.
If youâ€™re interested in receiving that information, please let me know.

Thanks!

Robert

Robert Williams
*LDWW*
1444 Oak Lawn Avenue | Suite 100 | Dallas, TX 75207
951.202.0325
ldww.co <http://ldwwgroup.com/>