Retail used vehicle sales reached 3.8 million in September, a 4.3% gain over a year ago and basically unchanged from August. Franchised dealers gained market share from a year ago and last month, while independent dealers lost share from 34% to 33.4%. Franchised dealers were up 6.6% in units, and independent dealers were up 2.4% in units versus year ago. Private party sales saw a yearly gain of 3.2% but a large drop of 10.6% from August.
Transaction Prices up Nearly 18.5% Vs. Year Ago, but Behind August by 1.2%:
Year-over-year gain is primarily due to improved inventory of younger vehicles including off-lease models.
Independents Had 1.7% Price Gain vs. Year Ago and Down 0.11% from August:
Total value of used vehicles sold was $40.86B, a 16.9% gain over year ago, but down a third of a percent from August.
Number of Sub-prime Buyers Leaped 31% from Year Ago and Nearly 2% Over August:
Buy-Here/Pay-Here saw an 18% gain in unit sales vs. September 2013.