Art Spinella
President
CNW Research
August will be a solid month for used-car sales, rising at least 3% vs. year ago, based on first half of month. An influx of trade-ins and quick turnaround on lot should easily top 1.5M sales for Franchised dealers in August, bringing yearly total to nearly 10.6M. Independents will be up about 3.3% to 1.37M sales while private party should rise 2.8% to 1.1M.
Check out the latest Retail Automotive Summary report
Dealers Turning Inventory Quicker, But Prices Continue Below a Year Ago:
After first half of August, Franchised down 0.7% in prices and Independents up 8.4%.
Compared to Last Month, Franchised Up Quarter Percent in Asking Prices and 0.4% in Transaction Prices:
Independents were up 1.25% in asking prices and 1.7% in actual transaction prices.
Preliminary Data Suggest Potential Used-Car Buyers Waiting in Wings:
August figure is up more than 13% compared to last year.