Retail used vehicle sales are continuing to change, with upstream channels growing along with casual, private party sales. On the wholesale front, auctions have been feeling the pinch in the recent past. Auction volumes have been increasing in the past three months.
According to CNW Research’s Art Spinella, casual, private party sales is taking second place behind Franchised dealers and ahead of Independents for June.
Private party sales are running 22% higher than year ago, and has sold about 6.5M units so far this year, up 8.8% from 1st half of 2012. June is seeing used car sales reach about 4.42 units sold overall, for a solid month.
Auction sales volume was flat in the first quarter of 2013, but has been increasing in recent months and is up 3.1% year-to-date, says NAAA’s Dr. Ira Silver.
Auction prices have been down for the past three months and have decreased 3.2% so far in 2013. Retail used vehicle sales are seeing a stronger showing this year – up 7.7% in volume this year.
