Private Party Sales Starting Upward Spiral, Art Spinella Says


Art Spinella
CNW Research

As anticipated by CNW Research, number of Casual or Private Party sales is beginning to see positive ground. While 1.1% increase is slight, it reverses a downward trend and could have significant impact on both franchised and independent dealer inventories. Transactions typically deal in older models upgrading to less-old versions.

Click here to read the March issue of Retail Automotive Summary

While MSRP of New Vehicles Sold in February Rose 3.7% vs. Year Ago:
Manufacturer’s incentive level jumped 15.5% to an average of $4,162 per vehicle.

Industry Likely to See 2.95M Used Units Sold – Best March Since 2002:
Recession caused many potential UC buyers to postpone purchase, causing backlog of pent-up demand.

Franchised Dealers Saw 5.3% Increase in UC Transaction Prices over February:
Independent dealers also saw month-over-month increase in transaction prices, up 5.1%.