Art Spinella
President
CNW Research
“Must Replace” used vehicle purchases are down with much of industry growth leaning now to “Add On” sales to people who are buying a vehicle for personal rather than purely transportation reasons. Must Replace has grown about 3% this year – slowest year-over year growth since 2006 when it was 1.9%. Add On sales jumped 5.5%, biggest year over year gain in five years.
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May Sales Climbing at Rate that Would put Month into Slumpish 0.3% Gain:
Franchised dealers looking at –2% vs. year ago, chipping away at year-to-date gains.
Independent Dealers Seeing Big Drop with 12% Decline vs. Year Ago:
Losing much of its year-over-year increase to casual or private party sales that are up nearly 18%.
Expect to See Underlying Shift in Market Share Between Dealers and Private Party Sales in 2013:
Casual sales as new and faster ways of selling cars on line is emerging.
