If the latest analysis from CNW Research is any indicator, the number of cars you see out on the lots may be down a bit, with dealers having pulled back on inventory ahead of chillier months. But don’t expect that to last.

“In part due to the anticipated winter selling season, many dealerships reduced inventory going into the November-December-January period,” CNW president Art Spinella said in the firm’s latest Retail Automotive Summary. “That resulted in a shorter supply of vehicles and a 2.4-percent drop in days’ supply.”

However, Spinella adds this forecast later in the report: “Dealers are beginning to stock up for spring selling season, bolstering their inventory. Expect significant sales gains in March through May.”

Those sales gains were already starting to creep in for January.

CNW was forecasting on Wednesday that January used-vehicle sales would beat year-ago figures by 1 percent, saying the Northeast snowstorm in the latter part of January had little impact on the pre-owned car market.

The final tally for January was projected at more than 2.36 million used sales industry-wide, ahead of the 2.34 million used cars sold in the same month of 2014.

The weather in the Northeast slightly softened used sales, “but only because many outlets shut down their businesses on weather forecasts,” Spinella said.

 “But the losses were minimal,” he added.

Meanwhile, TrueCar forecasted that January would see 2.92 million used-car sales, a 5.8-percent increase from a year ago.

CPO Impact from Supply

Going back to CNW’s point about increasing used-car supply, one area where volume is likely to be particularly heavy in coming months is the off-lease channel.

As illustrated by Cox Automotive chief economist Tom Webb in Manheim’s Auto Industry Brief for January, such heavy off-lease gains will have a two-pronged impact on one of the hottest sectors of the used-car market: certified pre-owned vehicles.

“It is widely expected that CPO sales will reach a fifth consecutive record in 2015 as higher off-lease volumes increase both the ability and the need to increase these programs that enhance manufacturer and dealer profits by improving customer satisfaction and loyalty,” Webb said.