Spinella: August Used Car Sales Summarized

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CNW Research - September 4, 2012

According to Art Spinella and the latest CNW Research data, August used car sales increased 1.5 percent when compared to August 2011. Subprime buyers made up 23 percent of those sales.

Read more about August used car sales tally percentage breakdown.

According to CNW Research:

  • August used car sales came in at 3,867,892 units compared to the same month of 2011’s 3,812,774, a 1.5 percent increase.
  •  Franchised dealers’ used car sales total: 1,480,008 vs. 1,431,489, up 3.3 percent.
  •  Independent dealers’ used sales: 1,329,968 vs. 1,424,219, down 6.6 percent.
  •  Private Party (casual) sales: 1,057,915 vs. 957,086, up 10.5 percent.
  •  About 29 percent of used-car shoppers used a mobile device for locating a vehicle, up from last year’s 11 percent.
  •  Total value of all used vehicles sold in August $35.56 billion based on an average transaction price of $9,193 across all channels.
  • Passenger cars represented 52 percent of used sales with trucks at 48 percent and SUV’s of making up 18 percent of the truck total.
  • In all, about 10.8 million consumers shopped for a used vehicle in August with buyers making a selection and purchase within 4.1 weeks of beginning the shopping process.
  • Sub-prime buyers were 23.3 percent of sales.