AutoTrader.com: Used-Vehicle Shoppers Still Making Value-Based Decisions
ATLANTA — Although fuel costs have subsided, used-vehicle and certified pre-owned shoppers were less likely to lean toward SUVs than their new-vehicle shopper counterparts during July. Instead they are being a bit more meticulous in their vehicle-research process, according to AutoTrader.com.
The site looked at the most-viewed new, used and CPO vehicles during July, and found that trucks and SUVs composed 12 of the 20 spots for most popular new rides. The rest of the new-vehicle list was filled with muscle/sports cars and sedans.
The top-20 list for the used side included 11 trucks or SUVs, and the CPO list had nine.
"With smaller and more fuel-efficient cars still making our Top 20 used and CPO lists, you're seeing the impact value has on used-car shoppers," explained Chip Perry, AutoTrader.com president and chief executive officer.
"Even with gas prices moderating, the used-car shopper is still researching vehicles with a little more intensity, reviewing every angle to make the best purchase decision — price, cost of ownership, gas mileage, reliability," Perry continued. "New-car buyers also want to make sure they make the right choice, but it appears many new-car shoppers and buyers have accepted gas prices in the high twos and low threes per gallon and are considering things like utility and style ahead of gas mileage."
On the used-car side, the Ford F-150 was again the most-viewed vehicle, while the BMW 3-Series was most popular for CPO models.
As far as pricing goes for used vehicles, the Ford F-250 had the strongest upswing in average asking price (10.07 percent) from July 2009. In fact, 18 of the top 20 used units saw price increases compared to the prior-year period.
On the CPO side, there were increases in 18 of the top 20 vehicles, as well, with six showing double-digit hikes.
Meanwhile, 17 of the 20 most-viewed new models saw their asking prices jump.
"Increased average asking prices are a good indication of the confidence manufacturers and dealers are having in the recovery of the auto market," Perry shared. "Even though economic recovery has been slow, more people are starting to shop and buy.
"Couple that trend with scarcity of some popular models in both new and used vehicles and the result is car sellers who are feeling more confident they can get the prices they're asking," he added.
The complete list of the most-viewed new, used and CPO vehicles, respectively, are as follows:
New
1. Ford Mustang
2. Chevrolet Camaro
3. Ford F-150
4. Chevrolet Silverado 1500
5. Ford F-250
6. BMW 3 Series
7. Jeep Wrangler
8. Chevrolet Corvette
9. Jeep Grand Cherokee
10. Dodge Ram 1500
11. Chevrolet Silverado 2500
12. Dodge Challenger
13. GMC Sierra 1500
14. Ford F-350
15. Chevrolet Equinox
16. Hyundai Sonata
17. Chevrolet Tahoe
18. BMW 5-Series
19. Dodge Ram 2500
20. Nissan 350/370Z
Used
1. Ford F-150
2. BMW 3-Series
3. Chevrolet Silverado 1500
4. Ford Mustang
5. Ford F-250
6. Honda Accord
7. Jeep Wrangler
8. Dodge Ram 1500
9. Honda Civic
10. Chevrolet Tahoe
11. Infiniti G35/37
12. Chevrolet Silverado 2500
13. Dodge Ram 2500
14. Toyota Tacoma
15. Nissan Altima
16. Jeep Grand Cherokee
17. BMW 5-Series
18. Toyota Tundra
19. Audi A4
20. Toyota Camry
CPO
1. BMW 3-Series
2. Honda Accord
3. Chevrolet Silverado 1500
4. Toyota Tundra
5. Chevrolet Tahoe
6. Ford F-150
7. Toyota Camry
8. Honda Civic
9. Audi A4
10. Toyota Tacoma
11. BMW 5-Series
12. Acura TL
13. Volkswagen Jetta
14. Ford Mustang
15. Toyota Highlander
16. Honda Pilot
17. Toyota 4Runner
18. Acura MDX
19. Chevrolet Suburban
20. Chevrolet Corvette