Art Spinella on July Used Car Market Trends

Art Spinel­la
CNW Research

Click here to read Retail Auto­mo­tive Sum­ma­ry for July 2012

Retail used-vehi­cle prices con­tin­ued to be soft w/ fran­chised deal­ers see­ing their trans­ac­tion prices drop a touch – 0.37% even though they were ask­ing 4.5% more than year ago; Inde­pen­dent deal­er trans­ac­tion prices slumped 8.5% vs. a year ago and 1.4% vs. June.

Get­ting some of May and June trade-ins through Recon­di­tion­ing Process and onto Lots:
Has helped fran­chised deal­ers post 6% gain in sales vs. year ago.

For Inde­pen­dent Deal­ers, Sto­ry Wasn’t Quite as Bright:
9.2% decline thus far in July and near 5% decline in year-to-date vs. 2011.

Work­ing in Auto Industry’s Favor this Month:
Mas­sive 24-plus per­cent spike in num­ber of sub-prime loan appli­ca­tion approvals.



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