Used car prices had been dropping early in 2025, but that’s over. The average used car was listed for $25,180 in March — up roughly $170 from February. That small increase is likely the first hint of a larger one, the leading edge of a spike in demand driven by steep tariffs on new cars.
The data come from vAuto, a company that provides dealership management software. Kelley Blue Book and vAuto share an owner, Cox Automotive.
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The nationwide supply of used cars fell to just 39 days as the month ended, down from an already-low 43 as March began.
The likely cause? When new car prices spike, used car prices follow because would-be new car buyers turn to used car lots seeking something they can still afford.
President Trump imposed a 25% tariff on all new cars entering the country starting April 3. That has raised the prices of many new cars. A second tariff is set to follow in early May, covering car parts. Since automakers use foreign parts in every vehicle — even cars built in the U.S. — that will raise prices on the rest.
Americans have responded by rushing to buy the cars still on dealer lots at pre-tariff prices.
Used car sales rose 9% last month in response.
Affordability remains challenging for consumers, and used-vehicle supply is more constrained at lower price points. Used cars below $15,000 are now the hardest they’ve been to find since 2021, with only 28 days’ supply. That’s seven days lower than the same time last year and 11 days below the average for all used cars.
The top five sellers of the month were listed at an average price of $23,778, about 6% below the average listing price for all vehicles sold. Once again, Ford, Chevrolet, Toyota, Honda, and Nissan were the top-selling brands, accounting for 51% of all used vehicles sold.
