Used Sales Static in Oct., But Strong Winter Ahead?
There were 3.16 million used-vehicle sales last month, a figure marginally better than October 2013 levels, according to CNW Research, which said year-to-date numbers through 10 months are essentially static with a year ago.
October’s monthly used sales figure beat year-ago numbers by 0.29 percent and fell 16.9 percent from September, a sequential decline not uncommon for this time of year.
Franchised dealers sold 1.21 million used units in October, a gain of 2.2 percent year-over-year. Independent dealers’ 1.04 million used sales were off more than 10 percent from October 2013, and there were 885,372 casual sales (up 12.5 percent).
Through 10 months, franchised dealers have sold 13.21 million used units, compared to 13.22 million a year ago. Independents have sold 11.64 million used cars, versus 11.96 million through October 2013.
There have been 10.78 million casual sales, up from 10.43 million in 10 months of 2013.
In the data set and analysis provided by CNW on Monday, firm president Art Spinella makes an interesting observation about the movement in used-car shopping numbers last month and its potential impact this winter.
“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,” Spinella said. “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.