Volume Strong, Prices Down in May Used Car Transactions

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Art Spinella
Pres­i­dent
CNW Research

The vol­ume was up but the value was down for retail used car sales in May. Used car deal­ers and pri­vate party sales were up 1.9% ver­sus a year ago reach­ing 4,391,248 units sold. The value of used cars sold slipped 3.4% to $39.2 bil­lion ver­sus $40.56 bil­lion last year due to lower trans­ac­tion prices.

Click here to read CNW Research’s analy­sis of May retail used vehi­cle sales

Inven­to­ries of 1-to-5 Year Old Cars Improv­ing Due to Off-Lease and Cor­po­rate Returns:
Shot up at 2 years – 2 year old up 9.6%, 3 year old up 7.9%, and 4 year old up 7.0%.

Saw 1.52% Decline in Num­ber of Used-Vehicle Shop­pers in May ’13 vs. May ’12:
But clos­ing ratios were up 4.8% off­set­ting fewer “lookers.”

CNW Saw 32.6% Rise in Num­ber of Used-Vehicles Acquired Out­side of Buyer’s DMA (Mar­ket­ing Area):
Price and avail­abil­ity of a par­tic­u­lar make and model were the two pri­mary reasons.

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