Used Vehicle Sales Jump 16 Percent in February: Report

The supply of lower-priced used cars has become tighter, affecting people looking for affordable options.

Used cars are offered for sale at a dealership in Chicago, Ill., on July 11, 2023. Scott Olson/Getty Images

The number of used vehicles sold in the United States rose by 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.