2013 Off to ‘Excellent’ Start for Used-Car Sales
With Edmunds.com expecting an estimated 3.21 million used cars to be sold this month — for a SAAR of 40.2 million — CNW Research anticipates the number will reach 2.3 million units, up 4 percent year-over-year.
And both franchised and independent used dealers are notching double-digit-percentage increases in used sales (14 and 15 percent, respectively), CNW reported in its latest Retail Automotive Summary.
On the other hand, private-party sales are down nearly 16 percent.
“This should reverse course as soon as spring arrives,” said Art Spinella, CNW president.
So, which units are flying off the lots?
Spinella shared a few top selling models for 2012, with the popular Ford F-Series out in front once again.
“The Ford F-Series pickup has been the No. 1 selling used vehicle for at least 13 years in a row, with 1.166 million sales in 2012 compared to 1.124 million in 2011,” Spinella reported.
Meanwhile, the Toyota Camry replaced the Chevy Silverado in the No. 2 spot, and the Chevy pickup fell to ninth.
The Ford Explorer made the top 10 for the first time since 2005, when it was third, Spinella added.
As gas prices are expected to rise again in the near future, Spinella also touched on another current hot topic: hybrid used sales.
As 2013 began, there were 2.17 million hybrid vehicles on U.S. roads “of which 762,169 individual vehicles have been sold at retail from any of the three used-car channels,” Spinella shared.
And this number may continue to grow as buyers may turn to fuel-efficient models if gas prices spike to levels seen in 2012.
In fact, as of Jan. 15, there were approximately 371,000 hybrids currently on dealer lots or for sale privately in the U.S., according to CNW.
“Of the used hybrids that have been sold, the average number of transactions since purchased new total about 1.69 million or 2.22 title transfers per sold hybrid,” Spinella said.
And though hybrids continue to gain popularity among buyers, their pricepoints are still quite a bit higher than non-hybrid models — and this is evident in the used market, as well.
Of the hybrids sold, the average mileage at transfer was 43,812 miles and the average price paid was 11 percent higher than comparable non-hybrid models, CNW reported.
The Toyota Prius remains the top selling model, with the hybrid Honda Civic and Accord and the Ford Escape gaining popularity, as well.