Dealers Make Up for Softening Wholesale with Strong Asking Prices

Art Spinel­la
Pres­i­dent
CNW Research

Even with the whole­sale used vehi­cle mar­ket see­ing low­er prices, deal­ers were able to get a high­er per­cent­age of their used-car ask­ing prices in August. Fran­chised deal­ers received 96.9% of ask­ing price com­pared to 95.4% a year ago. Inde­pen­dent deal­ers saw a good gain – near­ly two per­cent­age points from 94.7% to 96.6%. Sales vol­ume slipped to under 4M units, down about 3%.

Here’s the CNW Research Retail Auto­mo­tive Sum­ma­ry for August

Fran­chised and Inde­pen­dent Deal­ers Saw Used Vol­ume Decrease in August:
Pri­vate Par­ty (Casu­al) mar­ket had sig­nif­i­cant gain this month of around 7.7%.

More Inven­to­ry on Deal­er Lots Caus­ing Used Car Days’ Sup­ply to Jump 3%:
That’s fore­telling a con­tin­ued decline in month-over-month retail prices.

Lease Resid­ual Val­ue Pro­jec­tions Trail­ing Actu­al Prices at End of Term:
One GM lease ear­li­er this year car­ries resid­ual 83.59% of what actu­al mar­ket is like­ly to pay for those vehi­cles.

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