Dealers Sold Less Used Retail in February, but Franchised Saw Prices Go Up

Art Spinel­la
Pres­i­dent
CNW Research

Deal­ers saw mixed results in Feb­ru­ary used retail sales. Total used sales came in at 2.055M units, down 1.3% from year ago’s 2.082M and more than 12% behind Jan­u­ary. Fran­chised deal­ers were down 2.46% and Inde­pen­dents down 2.15% from year ago. Val­ue of the vehi­cles sold went up 6.1% com­pared to last year for Fran­chised deal­ers; rich­er mix of inven­to­ry and strong CPO mar­ket helped.

See Art Spinella’s analy­sis in Feb­ru­ary 2014 used vehi­cle report

Inde­pen­dents Had Tough Month – See­ing Val­ue of Vehi­cles Sold Fall 4.3%:
Pri­vate Par­ty saw 12.65% increase in val­ue over last year – with Asian mod­els lead­ing.

Num­ber of Used Car Shop­pers Fell 15.3% from Year Ago and 16.5% from Jan­u­ary:
There were 2.3 shop­pers for every buy­er in Feb­ru­ary, down from 2.67 in Jan­u­ary.

Sub-Prime Buy­ers Dropped 21.43% vs. Feb­ru­ary 2013:
Buy Here Pay Here also declined – 16.7% down from Feb­ru­ary 2013.

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