August Used Car Sales Volume Down More than Seasonal Trend

Art Spinel­la
Pres­i­dent
CNW Research

Retail sales were down 6.52% from year ago and more than 15% from July. While that month-over-month decline typ­i­cal­ly hap­pens, it was some­what dis­tress­ing because usu­al pre-Labor Day sales tend to be for stu­dents going back to school and like­ly need­ing more reli­able trans­porta­tion. Sales may go up in Sep­tem­ber – there was slight surge in Sept. 1 used-floor traf­fic, which may result in Sep­tem­ber sales off­set­ting much of decline.

Here’s the CNW Research report on August 2014 used vehi­cle sales

Fran­chised and Inde­pen­dent Deal­ers Down 5.6% and 13.7% in Sales from Year Ago:
Pri­vate Par­ty (Casu­al) took some share away from Inde­pen­dent.

Total Val­ue of Used Car Sales Rose 7.3% in August Vs. Year Ago:
Came from high­er ask­ing prices, and abil­i­ty to get cus­tomers to pay clos­er to ask­ing price.

Total Num­ber of Used Car Shop­pers Down, Explain­ing Low­er Sales:
There were 8.5 mil­lion used car shop­pers in August 2014 vs. 10.8 mil­lion a year ago.

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