Penske Automotive Group sold 39,844 used units the third quarter, up from 33,084 vehicles in the third quarter of 2011. Revenue for those used vehicle sales rose 8.4% — reaching $924.8 million in third quarter 2012 compared to $853 million the year before. Gross profit per used vehicle retailed didn’t rise during that time, dropping […]
Jonathan Banks Executive Automotive Analyst NADA Used Car Guide NADA Used Car Guide thinks vehicles up to eight-years-old will see prices increase 0.5% to 1.5% as a result of Hurricane Sandy, which destroyed thousands of vehicles. The loss of supply and increase in replacement demand will have most of its impact on prices in December. […]
Art Spinella President CNW Research Used car sales were still up year over year by 4.6%, but it was not enough to offset lower average used price when it came to the value of vehicles sold. In October of 2012, total value of used transactions was $27.61 billion, down from year-ago’s $28.2 billion. Click here […]