Art Spinella
President
CNW Research
February’s slight projected increase in retail used vehicles sales – about 0.3% – is a decent showing given strength of used-car market a year ago and the extra day given leap year; Used car sales should be near 2M market w/ franchised dealers leading.
Click here to read the February issue of Retail Automotive Summary
Franchised Dealers Sold About 714K Units and Independents About 700K:
Private Party continues to be weaker than dealers, down 9.6% in opening days of February.
Dealers Skimming Cream of Crop, Leaving Less Desirable Units for Private Party:
CNW still expects private party sales to rebound in second quarter, however.
Used Prices Continue to be Weak So Far W/ Little Sign of Rebounding:
Franchised and independents were only getting 93% and 92.7% of asking prices.