More Predictions for Nov. Used-Car Sales
It could be a whopper of a month for used-vehicle sales, if a forecast from TrueCar bears out. The company is calling for nearly 3.1 million used-vehicle sales by the end of November.
Specifically, TrueCar’s estimate is for the used market — including franchised and independent dealers plus private-party transactions — to exceed 3,079,327 sales this month, which would beat year-ago figures by 23.7 percent.
Comparatively, Edmunds.com released a forecast on Monday predicting an estimated 2.64 million used sales for November.
Edmunds also projected a used-car SAAR of 36.3 million for the current month.
As for the coming months, the market could be in store for a solid winter.
In analysis earlier this month that recapped October used-vehicle sales — which showed a modest year-over-lift — CNW Research offered a glimpse at where used sales figures could end up in early 2015.
“The number of used-car shoppers (including those who were considering either a new or used vehicle) slipped more than 6.8 percent versus a year ago, but rose by a similar amount versus September,” CNW Art Spinella said, referring to October. “The latter is interesting because total number of sales were down on a higher number of shoppers.
“Indication: Expect a strong January-March used-sales market because shoppers typically are two to three months away from actually making a purchase,” he added.