After quite a strong May for used-vehicle sales (at least among franchised dealers), how is June shaping up? That’s the question a couple industry observers are looking at as the month winds down.
Edmunds.com is estimating June used-car sales (across all channels: franchised and independent dealers, plus private-party figures) will reach 2.98 million. This would result in a used SAAR of 37.2 million; last month, Edmunds pinpointed used sales at 3.07 million with a SAAR of 37.4 million.
Next up, TrueCar forecasts that there may be more than 3.33 million used-vehicles sold in June, which would beat year-ago figures by 8.4 percent.
As for May, the National Automobile Dealers Association announced earlier this month that there were roughly 4.02 million units, compared to an even 4 million in May 2014.
This brought the year’s tally just past 14 million used cars and light trucks, putting 2015’s pace thus far just slightly behind 2014’s, where total used sales passed 14.1 million units by the end of May 2014.
“Private-party sales of used vehicles have declined this year,” Steven Szakaly, NADA’s chief economist, said when the report was released. “The cold winter combined with a wetter than usual spring dampened sales by individuals. New-car dealers, on the other hand, clearly benefitted from the increase consumer traffic during Memorial Day sales events that brought new car buyers in to shop for both new and used vehicles.”
To put that in perspective, new-vehicle dealers sold 1.52 million used units in May, a 3.6 percent increase year-over-year, while used-car dealers and private-party sales each declined 1.6 percent, respectively, compared to 2014.
Used-vehicle dealers sold 1.29 million vehicles in May; private parties sold 1.21 million units for the same month.
Editor's Note: Staff Writer Josh Hyatt contributed to this report.