Art Spinella on October Used Car Sales for Franchised and Independent Dealers

Art Spinel­la
Pres­i­dent
CNW Research

More than 3.49M used vehi­cles are like­ly to be sold in Octo­ber, rep­re­sent­ing an 8.1% increase vs. same month year ago; Fran­chised deal­ers tak­ing in boat-load of trade-ins and are on track to near-12% increase in used sales, push­ing their year-to-date increase to 5%.

Click here to read the Octo­ber issue of Retail Auto­mo­tive Sum­ma­ry

Inde­pen­dent Deal­ers See­ing Num­bers Up 10% in Octo­ber after Mis­er­able 1st Half:
Off 3.7% year-to-date caused by poor inven­to­ry through July and tight cred­it.

Fran­chised and Inde­pen­dent Deal­ers Ben­e­fit­ing from More Cred­it Chal­lenged Cus­tomers Get­ting Financ­ing:
27% with FICO scores under 670 got loans in Jan­u­ary 2010, now has gone up to 42%.

For Fran­chised Deal­ers, Ask­ing Prices Close to Last Month and Year Ago:
Actu­al used trans­ac­tion prices down 3.6% from last year and 4.2% from Sep­tem­ber.

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