CNW Research: Used Car Sales Report August Jump

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With the last day of August com­ing as part of Labor Day week­end, used-car deal­ers were able to see a large jump in end-of-the-month sales for August.

Get the facts and fig­ures from Art Spinella as com­piled by CNW Research.

With the last day of August com­ing as part of Labor Day week­end, CNW Research tab­u­lated that the used-vehicle sales fig­ure for the month jumped 5.6 per­cent year-over-year.

Com­bin­ing sales at fran­chised and inde­pen­dent deal­er­ships as well as private-party trans­ac­tions, CNW found August sales came in at 4.1 mil­lion units, up from the 3.9 mil­lion vehi­cles that the indus­try gen­er­ated dur­ing the same month last year.

Monthly used-vehicles sales now have topped the 4-million mark for four months in a row. Accord­ing to CNW’s data, a streak that long hasn’t been seen since 2007 when the span from May through Sep­tem­ber sur­passed that mark. That streak also included the sales fig­ure of 4.76 mil­lion recorded in June 2007, a level that hasn’t been topped in nearly eight years.

Get­ting back to August’s data, CNW deter­mined sales for the three major chan­nels set­tled as follows:

—Fran­chised dealer sales increased 4.47 per­cent to 1.55 million

—Inde­pen­dent store sales increased 4.96 per­cent to 1.39 million

—Private-party trans­ac­tions rose 7.8 per­cent to 1.14 million

Look­ing at trans­ac­tion prices, CNW found mixed results for August.

At fran­chised stores, trans­ac­tion prices rose to $13,146, climb­ing 3.9 per­cent from $12,656 a year ago. Mean­while at inde­pen­dent deal­er­ships, trans­ac­tion prices dipped a bit last month, tick­ing down 0.23 per­cent to $7,070 from $7,086.
Prices for private-party trans­ac­tions crept up 1.03 per­cent to $7,069 com­pared to $6,998 a year ago.

“Over­all, trans­ac­tion prices of all three chan­nels com­bined was $9,371, up 1.93 per­cent from last year’s $9,193, bring­ing the total value of the used mar­ket in August to $38.257 bil­lion, up 7.59 per­cent,” CNW pres­i­dent Art Spinella said.

What kinds of used vehi­cles did cus­tomers pur­chase last month? CNW found that pas­sen­ger cars as a share of total sales rose 12.6 per­cent while trucks slid 2.04 per­cent. The firm noticed sales of SUVs tum­bled even more, falling off 16.35 percent.

 

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