Art Spinella
CNW Research
President
Retail Automotive Summary – June 2012
Used vehicle days’ supply had slight increase this month as dealers struggle to find balance between what they’re paying at wholesale and what public is willing to spend on vehicle; Softer gasoline prices made economy cars more of a drag on sales.
June Looking to Take Back Some Gains Made in May:
Used sales will be down about 1.5% in volume compared to last year.
Franchised Dealers’ Used-Car Sales Volume Up 1%:
Independent Dealers off about 4%, Private Party sales down around 1%.
Used Prices at Franchised and Independent Dealers Slipped vs. May:
Asking prices off nearly $500 and transaction prices lower by similar amount, down 4.38%.