Franchised Dealers Carried Most of Gains in Used Vehicle Sales During Q2

Caldwell_Jessica_Edmunds

Jes­si­ca Cald­well
Senior Ana­lyst
Edmunds.com

Used vehi­cles sales in the sec­ond quar­ter of 2014 were up 1.6% units year-over-year, but down 5.4% from the first quar­ter. Fran­chised deal­ers car­ried most of the gains – sales were up 7.4% over last year and 2% over last quar­ter. Fran­chised deal­ers have seen greater inven­to­ry avail­abil­i­ty through lease returns and near­ly half of new vehi­cle sales tak­ing place with a trade-in.

Here’s Edmunds’ Q2 2014 Used Vehi­cle Mar­ket Report

Aver­age Price for Used Vehi­cle Sold at Fran­chise Deal­er Was $16, 781:
This aver­age price in Q2 was up 4% year-over-year and 3.9% from last quar­ter.

Financ­ing of Used Vehi­cles Shares Many Sim­i­lar­i­ties with New Vehi­cle Mar­ket:
Both have seen a reduc­tion in aver­age inter­est rate but an increase in loan term lengths.

In Q2, Cer­ti­fied Pre-Owned Made up 20.4% of Fran­chise Deal­er Used Sales:
While CPO has seen slight bump in share, there still is plen­ty of room for growth.

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