Art Spinella
President
CNW Research
Used car sales had unpredicted surge in volume in late month through franchised and private party channels; market was up 2.45% to 4,489,731 units sold. Private party sales were down from a year ago by 0.46%, and franchised dealers (up 3.35%) and independent dealers (up 3.82%) went in other direction. Prices didn’t have similar experience as volume and slipped from last year.
Click here to read CNW Research’s report on June sales
Total Value of Used Cars Sold Slipped 3.2% to $40.2 Billion:
Compared to last year’s $41.5 billion ̶ because of lower transaction prices.
3.8% Increase in Number of Used-Vehicle Shoppers Vs. Year Ago:
Independent shoppers way down – 26.81%, franchised and private party up.
Number of Sub-prime Buyers Skyrocketed by Nearly 35.6%:
To 1,018,845 individuals from last year’s 751,143.
