Art Spinella
President
CNW Research
Used-car industry may well be seeing end of year-over-year declines in transaction prices, if September’s early weeks were any indication; Franchised and independent dealers see transaction prices go up – 1.22% up over last year for franchised and independent dealers seeing prices shoot up nearly 12% over September 2012; Days’ Supply of used vehicles is flat compared to August at 45.93 days.
Check out the latest edition of Retail Automotive Summary
Consumers More Selective in What they Will Buy Used than in Late 1990s:
They want a vehicle meeting exacting specifications from color to options to mileage.
Casual Sales Regained Momentum in September:
With an estimated 20% gain for the month vs. a year ago.
Driving Force in Used Remains Need to Replace Aging Vehicle, Unlike New:
That demand trend is likely to continue into October.
