Total used-car sales in January were 2.38 million units sold, up 2% over one year earlier. Franchised dealers and private party sales were up 4.63% and 3.42%, respectively. Independent dealers saw sales slip 1.86% from a year ago. Both franchised and independent dealers saw transaction prices jump – franchised more than 27% over a year ago and 3.34% over December 2014; independent dealers were up 13.5% over January 2014 and 3.2% over the previous month.
Growth in Off-Lease Helped Gain for Franchised and Independent Dealers:
While franchised also saw higher certified pre-owned (CPO) help used sales.
Fewer People Visited Dealership Used Car Lots in January than in December:
Off nearly 30% and following typical, historic December-January trends.
Consumers Continued Hunting for Best Deals Shopping Outside Local Market:
Number that bought outside their local market rose by more than 12% vs. year ago.