CARY, N.C. -

On both a wholesale and retail level, used-vehicle sales have slowed down, and that includes sales of certified pre-owned vehicles, reports from industry observers indicate.

However, it appears the used-car market could still reach the all-time record for CPO sales set in 2019, according to a Cox Automotive analysis of data from Motor Intelligence.

Through 10 months of the year, there have been 2,380,337 certified vehicle sales, a 9% hike compared to the same period of 2020 and a 2% hike from the first 10 months of 2019, Cox said.

“With two months left in 2021, reaching the revised Cox Automotive CPO sales forecast of 2.70 million units — and possibly matching the 2.80 million record-setting 2019 level — remains within reach,” Cox Automotive said in its report.

There were 216,957 CPO sales in October, compared to 233,514 in October 2020 and 228,118 certified sales in September of this year, according to the Cox analysis that cited Motor Intelligence. There were 230,346 certified sales in October 2019.

Overall, there were 2.9 million total used-vehicle sales for October, a 10% year-over-year drop, Cox said. It was down slighlty from September's 3.0 million used sales.

The used-car SAAR for the month was 35.8 million units, compared to 39.9 million in October 2020. In September, the used-car SAAR was also 35.8 million.

“Used-vehicle sales slowed again in October on low inventory, which we expect will persist through the waning months of 2021,”  Kayla Reynolds, who is manager of economic and industry insights at Cox Automotive, said in an analysis.

“Despite a slowing of pace, the used-vehicle market has been playing a key role in the recovery of the automotive industry,” Reynolds said.

Looking specifically at sales from dealerships, Cox said there was 1.59 million used retail sales in October. That’s off from 1.7 million in the year-ago period and 1.63 million in September.

Cox estimated the October used-car retail SAAR at 19.6 million, steady with September and off from 21.1 million in October 2020.

On the wholesale side of the market, J.D. Power Valuation Services estimated there were 294,000 units sold at auction last month, down 9% month-over-month and down 22% year-over-year.

Through 10 months of the year, J.D. Power calculated wholesale sales volume to be at 3,379,000 units, a 13% decline from the same period of 2020.

“This figure appears even depressed when compared with 2019, as auction sales are trending between 25% to 30% lower than pre-pandemic levels,” J.D. Power said in an analysis. “Mass market sales are certainly more constrained, currently almost 14% lower than a year ago, which is being amplified by massive reductions in passenger car wholesale volume.

“Premium wholesale sales are faring better, as sales for this sector are relatively flat when compared with the same period a year ago,” it added. “This continues to be a major contributing factor as to why premium prices aren’t up quite as much as mass market.”