Retail Used Has Been Seeing Prices Dip Faster than Wholesale

Art Spinel­la
Pres­i­dent
CNW Research

While whole­sale used vehi­cle prices have been strong late­ly, that hasn’t been the case for retail used. Ask­ing prices aver­aged $11,372 for fran­chised deal­ers last month, com­pared to $11,716 last year. How­ev­er, fran­chised and inde­pen­dent deal­ers did see that their ask­ing price was clos­er their clos­ing price. Fran­chised deal­ers were able to get 96% of their ask­ing price ver­sus 94% a year ago; Inde­pen­dent deal­ers saw 96.5% in April ver­sus 93.9% a year ago.

Here’s the April edi­tion of Retail Auto­mo­tive Sum­ma­ry

About 3.9M Used Cars Were Sold in April:
Inven­to­ry of avail­able vehi­cles con­tin­ues to con­tract – down 3.13% from year ago.

All Three Used Vehi­cle Chan­nels Will Take Part in 3.7% Used Car Increase:
Fran­chised should be up 4.7%, Inde­pen­dents 3.9%, and Pri­vate Par­ty 2.2%.

New Vehi­cle Floor Traf­fic Was Up 3% Ver­sus Year Ago:
Retail share of new vehi­cle sales also up, indi­cat­ing con­sumers are back in the mar­ket.

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