Used Sales Hit Five-Year High
It was the best used-vehicle market in five years, according to CNW Research, which said Wednesday afternoon that 2012 full-year used sales reached 40.5 million units.
This marked a 4.5-percent year-over-year gain and was the market’s strongest yearly sum since 2007.
Franchised dealers commanded close to 37 percent of the used-car market, CNW said, with independents at 34.6 percent.
Offering some December-specific data, CNW pointed out that franchised dealers saw their average used-vehicle transaction prices climb nearly 10 percent year-over-year at $12,678. This was pushed by the fact that they had a great deal more two- to six-year-old vehicles arriving on their lots, the firm said.
Meanwhile, transaction prices for independents last month was at $6,910. This was relatively static compared to December 2011, when prices were at $6,943.