RDN: September Recovery Volume and Orders Rise
The most recent RDN Monthly Analytics Update indicated September recovery volumes increased 4 percentage points from August levels.
But, the September reading still settled 4 points below year-ago levels.
RDN indicated September recovery orders climbed 6 percentage points from the previous month and also increased 5 percentage points year-over-year.
The RDN Recovery Market Trend Summary — a rolling comparison of new and used vehicle buyer’s FICO scores against the percentage volume of recovered vehicles relative to the volume of vehicle sales financed — showed the volume of recoveries relative to retail new- and used-vehicles financed increased during September versus the prior month.
RDN went on to mention that among the top 20 largest cities with the highest recovery volumes, New York experienced the highest actual volume increase during September while the Big Apple along with Charlotte, N.C., experienced the highest relative volume increase.
Finally, officials pointed out Texas led the nation with the highest volume of involuntary recoveries at just below 6,700 units in September while Florida paced the country with the highest volume of voluntary recoveries at a little less than 1,250 units recovered during September.