There could be another solid year in new vehicle sales with the total rising 3.5% to 6% as stability increases in the new-car intender base. It’s likely to be around 800K additional new vehicles sold this year over 2013. It’s harder to predict where used vehicle sales are headed this year after viewing January’s results.
Franchised Dealers Were Heading Toward 1% Decline in Total Sales this Month:
Independent dealers were down 3% from a year ago, Private Party sales were slightly down.
FICO Scores Show Easing of Credit Criteria for Buying Used:
Nearly 47% of all financed used cars went to folks w/ FICO scores of 670 or less.
Used Vehicle Supply Was Down on Dealer Lots:
Winter-inventory caution had dealers pull back on number of vehicles in their lots.