Used demand ticks up as buyers chase affordable inventory
Credit to Mr. Richard Greene Sept 10, 2026:
Used vehicle demand remains elevated, with growing demand for the youngest and oldest models, while new vehicle demand ticked up slightly but remains off 2025’s pace, according to CarGurus’ August Intelligence Report.
Driving the news: Though cooling from a three-year peak in the spring, demand in the used market continued to rise for a second straight month in August, even though there was no change in the average price for the last two months, staying at $30,200.
Demand grew year over year for all models three years old and under and for models 11 years and older.
Additionally, demand softened for vehicles between four and 10 years.
“A lot of the demand growth we’ve been seeing this year is on both ends of the spectrum,” Kevin Roberts, director of economic and market intelligence for CarGurus, said. “We see a lot of sales demand this year for two years and younger vehicles, and the thesis is that’s people getting priced out of the new market going over to the used market to find the price points they’re looking for. Then we’re seeing a lot of growth in the more aged vehicles, which tend to be at those lower price points… It’s affordability affecting both ends of the used market.”
Bottom line: Affordability continues to impact the overall market with consumers looking for value in the used and new markets.
“If you can source affordable inventory, both on the new and used side, that’s clearly where consumer demand and interest is now,” Roberts said. “Affordable inventory continues to be the single largest draw for consumers at this point. It’s been a trend now for several years. With everything going on with the macro environment and bond markets now, I continue to see interest rates more likely to go up than down at this point… Affordability is going to continue to be the number one trend. Obviously, the sub-trend underneath that is if you can get an affordable hybrid to go along with it, fantastic.”
