This used segment enticed shoppers as summer closed
It seems consumers were looking forward toward the winter-weather months when August rolled around. Medium- and heavy-duty pickup trucks were in high demand last month, and supply is waning.
That's according to the latest installment of Autotrader Scarcity Data Analysis provided to Auto Remarketing that covers supply and demand of certified pre-owned and late-model used vehicles.
In August, two CPO models — the GMC Sierra 2500 at No. 7, and the Ford F-250 at No. 8 — appeared on the national Top 10 list of most shopped certified models with the lowest supply.
Autotrader senior analyst Michelle Krebs pointed out, “Strong overall truck sales, and interest in heftier trucks, are an economic indicator suggesting a healthy construction and house-building market.”
And this bodes well for the truck market going forward.
“Autotrader analysis clearly shows pickup truck sales correlate perfectly with housing starts, but in this recovery, pickup truck sales have actually been ahead of housing starts. The fact that housing starts are picking up indicates there’s a good future for higher pickup truck sales, new and used,” Krebs continued.
Interestingly, though truck interest is growing, sport and luxury cars still made an impressive showing in August, as well.
For example, Krebs pointed out since the newest Mazda MX-5 Miata generation just went on sale, this move is still generating interest for pre-owned models, as well.
The CPO Mazda Miata came in at No. 10 on the national list. That said, this was down seven spots from July results.
Additional sport and luxury cars continue to be in high demand, as well.
“The Porsche brand remains hot, and performance cars continue their comeback,” Krebs said.
Last month, Porsche claimed the No. 1 spot on the certified national scarcity list with its CPO Boxter, which was up three spots from July. The used late-model national list had the Porsche Cayman at No. 2 for August, with the Boxter in the No. 9 spot.
The CPO Boxter was also scarce in Atlanta, where it came in at No. 2.
Audi models continue to be in high demand and low supply, as the CPO Audi S4 came in at No. 2 on the national list. Krebs noted, this model, “along with a lot of other Audi models, are a constant on the CPO scarcity list.
“Audi is a popular brand with younger buyers and particularly millennials, who are likely looking at pre-owned vehicles as more affordable,” she said.
The CPO S4 also notched the No.1 spot in Atlanta and Los Angeles. And for late-model used, the Audi Q3 came in at No. 7.
Lastly, Subaru’s sportier models continue to turn heads, especially the WRX and BRZ, which remained scared in August.
The WRX came in at No. 3 on the CPO national scarcity list, followed by the BRZ.
The CPO WRX also claimed the No. 1 spot in New York, Philadelphia and the San Francisco area, according to Autotrader data.
On the late-model used national scarcity list, the BRZ came in at No. 8, followed by the WRX in the No. 10 slot.
See below for the full August late model used and certified scarcity charts from Autotrader.com: