Art Spinella
President
CNW Research
March ended much better than had been expected for used vehicle sales in CNW Research’s latest Retail Automotive Summary. Spinella’s March sales figure report saw volumes increase more than 50% over weather-impacted February. That jump happened across all three used retail channels – Franchised, Independent, and Casual sales. Year-over-year, retail used vehicle sales increased 2.7% with franchised units up 1%, Independents up 4.8%, and Casual up 2.55%. Franchised transaction prices also did very well – rising a healthy 10.8% and bolstered by growing sales in certified pre-owned (CPO) sales.
Read the latest retail used vehicle sales report from CNW Research
Independents Saw Transaction Price Increase But at More Modest 1.52% vs. Year Ago:
Private party prices grew by 5% with much of it coming from 15+-plus year old models.
There Were 13% Fewer Used-Car Shoppers on Dealer Lots than Year Ago:
That indicates the pent up demand log jam may well be breaking.
Sub-prime Buyers Rose 17% Vs. Year Ago and 57% Over February:
Sub-550 FICO unit sales rose 51.6% over February, and had an 11.8% gain vs. year ago.
