Art Spinella and CNW Research Team on November Used Vehicle Trends

Here’s the Novem­ber 2013’s Retail Auto­mo­tive Sum­ma­ry from CNW Research and Pres­i­dent Art Spinel­la with an overview of used vehi­cle trends…..

• The US used vehi­cle mar­ket has been look­ing good with an esti­mat­ed 3.09 mil­lion prob­a­ble sales for a 4.1% gain. Low prices are clear­ly mak­ing an impres­sion on used-car shop­pers scour­ing deal­er lots and buy­ing less from pri­vate par­ty sources such as through Craigslist.
• Fran­chised deal­ers did well in Novem­ber, up near­ly 10% ver­sus a year ago. Large retail­ers such as Car­Max and Auto­Na­tion have seen a very good month, but even small­er deal­ers have seen a wind­fall of shop­pers.
• CNW esti­mates there are 112,500 used-vehi­cle inten­ders who are wait­ing in the wings to make an acqui­si­tion, up 11.9 per­cent from a year ago.
• One of the major rea­sons the mar­ket has been see­ing strong used-car sales can be traced to prices being soft­er dur­ing the past few months.
• November’s Fran­chised deal­er trans­ac­tion prices fell 1.6 per­cent vs.October to the low­est lev­el since Jan­u­ary-Feb­ru­ary of this year.
• Inde­pen­dent deal­ers have seen trans­ac­tion prices for Novem­ber slipped about a half-per­cent vs. Octo­ber on a mixed his­to­ry for the year.
• More crit­i­cal to used-car pric­ing are the increas­es seen in Days’ Sup­ply of vehi­cles. CNW esti­mates that there will be near­ly a 50 days’ sup­ply by month’s end, and this sup­ply increase will con­tin­ue to put down­ward pres­sure on pric­ing.

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