RDN: August Recovery Volume Up From July, Still Off Year-Over-Year

The most recent RDN Monthly Analytics Update showed August recovery volumes increased 3 percentage points from July levels. However, the reading also ended up 17 points below year-ago levels.

RDN indicated August recovery orders rose 4 percentage points from the previous month, but dropped 10 percentage points year-over-year.

The RDN Recovery Market Trend Summary — a rolling comparison of new and used vehicle buyer’s FICO scores against the percentage volume of recovered vehicles relative to the volume of vehicle sales financed — showed the volume of recoveries relative to retail new- and used-vehicles financed increased during August versus the prior month.

RDN went on to mention that among the top 20 largest cities with the highest recovery volumes,  Chicago experienced the highest actual volume increase during August, while San Jose, Calif., experienced the highest relative volume increase.

Finally, officials pointed out Texas led the nation with the highest volume of involuntary recoveries at just below 6,500 units in August while Florida paced the country with the highest volume of voluntary recoveries at a little less than 1,150 units recovered during August.