Q1 Used Share Beats 3 Prior Quarters
The share of total vehicle sales that used cars commanded in the first quarter marked a four-quarter high, according to Edmunds.com.
The company said in its latest Used Market Quarterly Report that used market share came in at 71.0 percent in Q1. While this trailed the year-ago share of 72.6 percent, it beat the fourth-quarter share of 68.0 percent as well as the second- and third-quarter levels from 2013.
In another area of its report, Edmunds specifically dialed in to the retail used sales at franchised dealers and broke down which segments had the strongest gains in used market share among these dealers.
Leading the list was entry luxury SUVs, whose share was up 10.8 percent, followed by mid-range luxury SUVs (up 10.5 percent). Compact crossover SUVs jumped 5.2 percent in share, midrange crossover SUVs increased 4.5 percent, and large crossover SUVs were up 3.8 percent.
“Luxury SUVs and crossover SUVs dominate the used-car market share increases this past quarter,” Edmunds said in the analysis accompanying the data.
Large truck share was up 1.3 percent and five segments were up less than 1 percent or saw no change.
The average change among all the segments was a downward movement of 0.9 percent. Twelve segments beat the industry average and nine fell below the average.