May’s Used Sales Likely Better Than Previously Expected

Including what was the strongest Memorial Day weekend for the market in six years, May’s used-vehicle sales total is expected to hit 4.27 million units, CNW Research president Art Spinella shared with Auto Remarketing on Tuesday.

That sum would best CNW’s projection earlier this month, when it forecasted May’s used sales to reach 4.19 million units.

Based on preliminary data, Spinella said he believes used sales figures from the holiday weekend (once finalized) will approach 700,000 units, or more specifically, “About 690,000, give or take 15,000 (units).”

He had said via Twitter on Tuesday that the weekend was the strongest Memorial Day weekend since 2006 for used-vehicle sales, new-vehicle sales and combined used/new sales.

Sharing more about this widespread new and used momentum, Spinella also tweeted that it “could well carry through the week.”