Total used sales rose 0.46% in November vs. one year prior, and slipped 1.6% from October. Franchised dealers were up 1.43% to 1.22 million units sold. Independent dealers sold 1.14 million used vehicles, a figure virtually unchanged from one year ago. Private Party sales declined 0.9% to 752,369 units sold. Excellent inventory control and CPO sales helped Franchised dealers see a 21% rise in transaction prices vs. year ago.
Independent Transaction Prices Were Also Strong – Up Nearly 8%:
Private Party transaction prices were up by 2.1% but down from dealer performance.
Total Value from All 3 Channels Reached $33.53B – 15% Gain from Year Ago:
Cars slipped by 1.33% as share of total sales and SUV sales rose by 17.45%.
Number of Used Vehicles Sold to Sub-prime Customers Jumped 25%:
Sub-550 up by 27.5% and responsible for 22.25% of total November sales.