Retail used vehicle sales closed the month at 3,162,085, only up 0.29% vs. a year ago. The numbers also saw the typical seasonal pattern, dropping down from September by 16.9%. For the market segments, franchised dealers were up 2.2% to 1,213,741; independent dealers saw their volume drop more than 10% to 1,036,3177; and private party (casual) sales rose 12.5% to 885,372 units sold.
Franchised Dealers Saw Transaction Prices Rise 16% to $15,678:
Up 18.7% over year ago, due to growing inventory of late-model off-lease vehicles.
Number of Used Car Shoppers Slipped More than 6.8% from Year Ago:
Expect a strong January-March market as shoppers typically are two-to-three months away from actually making a purchase.
Less Fuel Efficient SUV Volumes Rose Nearly 10% Due to Lower Fuel Prices:
Not surprising that passenger car share of used sales slipped slightly by 1.8%.