Used vehicle days’ supply had slight increase this month as dealers struggle to find balance between what they’re paying at wholesale and what public is willing to spend on vehicle; Softer gasoline prices made economy cars more of a drag on sales.
June Looking to Take Back Some Gains Made in May:
Used sales will be down about 1.5% in volume compared to last year.
Franchised Dealers’ Used-Car Sales Volume Up 1%:
Independent Dealers off about 4%, Private Party sales down around 1%.
Used Prices at Franchised and Independent Dealers Slipped vs. May:
Asking prices off nearly $500 and transaction prices lower by similar amount, down 4.38%.