Used luxury car statistics are best read as a set of related measures rather than one market total. The available U.S. data combines certified pre-owned (CPO) sales, all-used-vehicle prices and indexes, luxury-specific dealer results, and company-level retail, wholesale, sourcing and financing indicators from different periods.
Key Used Luxury Car Statistics
The most useful headline measures are:
- In 2023, more than 2.6 million certified pre-owned vehicles were sold in the United States.
- U.S. CPO sales rose 6.6% from 2022 to 2023.
- Cox Automotive forecast 2.7 million U.S. CPO sales for 2024, a forecast 3% above 2023.
- Luxury vehicles represented more than 24% of U.S. CPO sales in 2023.
- Cox Automotive cited an approximately 18% luxury share of U.S. new-vehicle sales in 2023 for comparison.
- The average U.S. retail used-vehicle listing price was approximately $25,467 in 2024.
- The 2024 average retail used-vehicle listing price was 32% higher than in 2019.
- U.S. used-vehicle listing prices ended 2024 4.5% below the end of 2023.
- The Manheim Used Vehicle Value Index ended December 2024 at 204.8 points.
- The MUVVI was up 0.4% year over year in December 2024.
- Total U.S. retail used-vehicle sales in 2024 were initially estimated 4% above 2023.
- Cox Automotive forecast 20.1 million U.S. retail used-vehicle sales for 2025, 1.2% above 2024.
- CarMax sold 182,655 retail used vehicles in fiscal Q4 2025, up 6.2% year over year.
- AutoNation sold 75,334 premium-luxury used vehicles at retail in 2023, down 10.2% from 2022.
- Carvana sold 416,348 retail vehicles in 2024, up 33.1% from 2023.
- CarMax retail used-vehicle gross profit was $2,322 per unit in fiscal Q4 2025.
- Online retail sales represented 15% of CarMax retail unit sales in fiscal Q4 2025.
- CarMax financed 42.3% of units sold in fiscal Q4 2025 after three-day payoffs.
Contents
- Used luxury car market scale and CPO volume
- Luxury share and vehicle availability data
- Used luxury car prices and value trends
- Retail and dealer sales performance
- Retailer margins, sourcing and digital buying
- Financing and transaction indicators
Used Luxury Car Market Scale and CPO Volume
CPO is a useful quality-screened measure, but it is not the whole used luxury market. In the United States, certified pre-owned sales exceeded 2.6 million vehicles in 2023, and CPO sales increased 6.6% from 2022 to 2023.
Cox Automotive forecast 2.7 million U.S. CPO sales for 2024, representing forecast growth of 3% from 2023. These are total CPO figures, not luxury-only sales, and the 2024 number is a forecast rather than a final observed result.
| U.S. CPO measure | Period | Result |
|---|---|---|
| CPO sales | 2023 | More than 2.6 million vehicles |
| Year-over-year change | 2023 vs. 2022 | 6.6% increase |
| Cox Automotive forecast | 2024 | 2.7 million vehicles |
| Forecast change | 2024 vs. 2023 | 3% increase |
Source: Cox Automotive, “Certified Pre-Owned Sales Rebound and Outperformed Used-Vehicle Market”.
The same Cox report described 2.3 billion online interactions annually across the Cox Automotive ecosystem, as reported in March 2024. It also described Cox Enterprises as having $23 billion in annual revenue; both figures describe broader company activity, not used-luxury-car transactions.
Luxury Share and Used Luxury Car Availability Data
Luxury-specific national used-car statistics are limited, but the CPO mix provides one important benchmark. Luxury vehicles represented more than 24% of all U.S. CPO sales in 2023, making luxury a clearly identified share of the certified market.
Cox Automotive also cited an approximately 18% luxury share of new-vehicle sales in 2023. The comparison is directional only: CPO sales and new-vehicle sales describe different populations and channels, so the shares should not be combined into a single market estimate.
| Measure | Period and geography | Result | Scope |
|---|---|---|---|
| Luxury share of CPO sales | U.S., 2023 | More than 24% | Certified pre-owned |
| Luxury share of new-vehicle sales | U.S., 2023 comparison | Approximately 18% | New vehicles |
Source: Cox Automotive, “Certified Pre-Owned Sales Rebound and Outperformed Used-Vehicle Market”.
The available data therefore supports a measured conclusion: luxury’s CPO share was above the cited new-vehicle luxury share, but it does not establish the number of all used luxury cars sold nationally. Vehicle availability also depends on whether the measure is retail inventory, certified inventory, auction supply or a dealer’s own sourcing channel.
Used Luxury Car Prices and Value Trends
The broad U.S. used-vehicle price series supplies context for used luxury shoppers, while its limitations matter. The average retail used-vehicle listing price was approximately $25,467 during 2024, 32% higher than in 2019, and listing prices ended 2024 4.5% below the prior year.
These are listing prices for all retail used vehicles, not completed sale prices or luxury-only prices. The source does not support converting the average into a used-luxury average.
Source: Cox Automotive, “Used-Vehicle Retail Listing Prices Decline”.
Wholesale values moved through a different measurement system. The Manheim Used Vehicle Value Index ended December 2024 at 204.8, up 0.4% year over year; its long-term average annual gain was 2.3%, while the index had reached an all-time high of 257.7 at the end of 2021 and fell to 196.1 in June 2024.
| Wholesale indicator | Period | Result |
|---|---|---|
| MUVVI level | December 2024 | 204.8 points |
| Year-over-year MUVVI change | December 2024 vs. December 2023 | 0.4% increase |
| Long-term average annual MUVVI gain | Historical benchmark cited January 2025 | 2.3% |
| MUVVI peak | End of 2021 | 257.7 points |
| MUVVI low cited in report | June 2024 | 196.1 points |
In December 2024, the non-seasonally-adjusted average wholesale used-vehicle price decreased 0.8% from November but was 0.3% higher year over year. The Manheim three-year-old index declined 1.3% over the last four weeks of December, including a 0.5% fall in each of the final two weeks.
Average daily MMR retention was 99.1% in December 2024, and valuation models were 1.3 percentage points above the prior year. Daily Manheim sales conversion averaged 53.8%, 1.1 percentage points below November; these are wholesale valuation and auction measures, not retail luxury-car outcomes.
Related powertrain data shows why model-level depreciation can vary. Used-EV wholesale values fell 28% from their July 2022 peak by December 2024, versus a 14% decline for non-EVs; in the second half of 2024, used-EV values rose 9.4% while non-EV values rose 4%, yet used-EV values remained 7.6% lower year over year in December 2024.
Cox initially estimated total U.S. retail used-vehicle sales in 2024 at 4% above 2023 and December sales at 13% above December 2023. It forecast 20.1 million U.S. retail used-vehicle sales for 2025, 1.2% above 2024, and forecast the MUVVI to be 1.4% higher year over year in December 2025; these are estimates or forecasts for the broad used market.
Used Luxury Car Retail and Dealer Sales Performance
Company reports provide some of the clearest luxury-specific retail observations, but they should not be treated as national market totals. AutoNation sold 75,334 premium-luxury used vehicles at retail in 2023, down 10.2% from 2022.
AutoNation sold 274,019 used vehicles at retail overall in 2023, down 9%, while used-vehicle revenue was $8.2 billion, down 15%. Its premium-luxury segment generated $10.3 billion in 2023 revenue, essentially flat year over year, and $837 million in segment income, down 14%; that segment includes new and used operations.
Source: AutoNation, “AutoNation Reports Fourth Quarter and Full Year Results”.
CarMax reported 182,655 retail used-vehicle sales in fiscal Q4 2025, the quarter ended February 28, 2025, up 6.2% year over year. Comparable-store used-unit sales increased 5.1%, while wholesale used-vehicle sales were 119,156 units, up 3.1%.
| Company measure | Period | Result |
|---|---|---|
| CarMax retail used sales | Fiscal Q4 2025 | 182,655 units, up 6.2% |
| CarMax comparable-store used sales | Fiscal Q4 2025 | Up 5.1% |
| CarMax wholesale used sales | Fiscal Q4 2025 | 119,156 units, up 3.1% |
| CarMax age-0-to-10-year-old market share | Calendar 2024 | 3.7% |
CarMax held 3.7% of the nationwide age-0-to-10-year-old used-vehicle market in calendar 2024. Its fiscal Q4 2025 net revenue was $6.0 billion, up 6.7%, but neither measure is luxury-only.
Source: CarMax, “CarMax Reports Fourth Quarter and Fiscal Year 2025 Results”.
Used Luxury Car Margins, Sourcing and Digital Buying
Retailer operating data helps explain how used vehicles reach buyers. In fiscal Q4 2025, CarMax retail used-vehicle gross profit was $424.1 million, up 9.5% year over year, and retail gross profit per used unit was $2,322, up $71.
Wholesale gross profit per unit was $1,045, down $75 year over year. These are company-level gross-profit measures across used vehicles, not a margin for luxury cars specifically.
CarMax bought 269,000 vehicles from consumers and dealers in fiscal Q4 2025, up 15.3%. Of that total, 223,000 were bought directly from consumers, up 5.3%, and 46,000 through dealers, up 114.2%.
Online retail sales represented 15% of CarMax retail unit sales in fiscal Q4 2025, versus 14% a year earlier. Online transaction revenue was $1.8 billion, approximately 29% of net revenue, and included retail and wholesale online transactions.
Source: CarMax, “CarMax Reports Fourth Quarter and Fiscal Year 2025 Results”.
Carvana sold 416,348 retail vehicles in 2024, up 33.1% from 2023, with retail vehicle revenue of $9.681 billion, up 28.8%. Retail revenue per retail unit was $23,252, down 3.2%; these figures describe Carvana’s U.S. operations, not luxury-only activity.
Source: Carvana, “Carvana 2024 Annual Report”.
Used Luxury Car Financing and Transaction Indicators
Financing data is another distinct layer of the used-car market. CarMax Auto Finance income was $159.3 million in fiscal Q4 2025, up 8.2% year over year, and CarMax financed 42.3% of units sold after three-day payoffs.
The weighted-average contract rate was 11.1%, down from 11.5% a year earlier. This is the rate on CAF-financed contracts, not an average APR for every used luxury buyer or every lender.
| CarMax finance measure | Period | Result |
|---|---|---|
| CAF income | Fiscal Q4 2025 | $159.3 million, up 8.2% |
| Units financed after three-day payoffs | Fiscal Q4 2025 | 42.3% |
| Weighted-average contract rate | Fiscal Q4 2025 | 11.1%, versus 11.5% a year earlier |
| Allowance for loan losses | February 28, 2025 | $458.7 million |
| Allowance as share of managed receivables | February 28, 2025 | 2.61% |
| Total interest-margin percentage | Fiscal Q4 2025 | 6.2% of average managed receivables |
CarMax’s allowance for loan losses was $458.7 million at February 28, 2025, equal to 2.61% of ending managed receivables. Its total interest-margin percentage was 6.2% of average managed receivables in fiscal Q4 2025; these are portfolio measures, not consumer loss prevalence or buyer APR.
The company also reported a service margin loss of $4 per retail unit in fiscal Q4 2025, an improvement of $257 per unit year over year. That is a service-department metric, not a measure of the owner’s maintenance or repair cost for a used luxury car.
Carvana’s wholesale channel provides a separate transaction benchmark: it sold 199,780 wholesale vehicles in 2024, up 27.6% from 2023, while wholesale vehicle revenue per unit was $9,611, down 8.7%.
Source: CarMax, “CarMax Reports Fourth Quarter and Fiscal Year 2025 Results” and Carvana, “Carvana 2024 Annual Report”.
The central measurement caution is consistent across these sections: CPO totals, luxury shares, retail listings, wholesale indexes, auction conversion, company revenue, financing portfolios and premium-luxury segment results describe different populations. Luxury-specific observations are therefore useful for orientation, while broader U.S. figures should remain labeled as related context rather than as used-luxury-car totals.