Certified volume hit record sales in January, but lost some momentum in February according to Autodata Corp. February sales were down 9.5 percent from January, down 83 percent from February, 2007, at 127,399 units.
Subprime lending to buy used vehicles is recovering slightly from 2008's 16% but still only 18% now when it was 67% in 2007. With 45% of consumers having impaired credit, it is essential for dealers to find a way to do business with them. Many more loans are now dependent on down payments and co-signers.
Consumers have started to migrate back away from hybrids and small cars to SUVs and pickups as fuel prices have dropped and stayed relatively low. Hybrid prices have dropped with the decreased demand. Increased fuel taxes for 2011 and beyond promise to make current cheap gasoline temporary.