Overall used car sales are down 3.4 percent through the first half of 2013, reports Edmunds.com, but one area of auto dealers are doing just fine.
Find out which group of dealers is on top in the used-car market.
Overall used car sales are down 3.4 percent through the first half of 2013, reports Edmunds.com, the premier resource for car shopping and automotive information. According to Edmunds.com’s 2013 Q2 Used Car Market Quarterly Report, 18,995,521 used cars were sold in the U.S. through the first six months of the year, down from 19,666,671 used cars sold during the same period in 2012.
But, says Edmunds.com, not all areas of the used car market are struggling: used car sales by franchise dealerships are up 6.0 percent and certified pre-owned (CPO) sales are up 12.5 percent in the first half of 2013.
“These trends suggest that the used car market continues to be driven by lease returns and vehicle trade-ins,” says Edmunds.com Director of Used Car Analysis Joe Spina. “And with franchise sales up 20 percent from the first quarter to the second quarter, it appears that franchise dealers’ used car sales are gaining momentum as the year progresses.”
Other highlights from Edmunds.com’s 2013 Q2 Used Car Market Quarterly Report include:
- Average used car prices at franchise dealerships are down $118 in the first half of 2013 to $15,986.
- Hondas sold faster at franchise dealerships than any other used car brand in the second quarter; Lincolns sold the slowest.
- The top-selling used vehicles by segment remained mostly unchanged in the second quarter. The two major exceptions: Ford Edge unseated Chevy Equinox in the midsize SUV segment and Mercedes-Benz GLK-Class knocked Lexus RX350 off the top perch among entry-level luxury SUVs.
- Because hybrid vehicle leases increased in earnest in 2010, Edmunds.com expects a material increase in used hybrid inventories in the third quarter of this year.