BANDON, Ore. -

Used retail transaction prices are up year-over-year for both franchised and independent dealers this month, perhaps a result of used supply tightening once again.

As of Thursday, the days' supply of used cars and trucks was about 46 days, according to the latest Retail Automotive Summary from CNW Research.

Though this number is well above what dealers had to deal with during the depths of the 2008 recession, company president Art Spinella explained it’s a “pretty short leash compared to the 60-plus days seen prior to the recession and well below levels during the final quarter of 2012 and first quarter of 2013.”

And this tightening supply situation may be boosting transaction prices for both franchised and independent dealers, Spinella said.

In June, average transaction prices for franchised dealers ($10,981) are up 2.1 percent from 2012 rates.

Independent dealers are seeing even more of a bump. In June, independent transaction prices ($9,507) have risen almost 6 percent year-over-year.

The share of asking price that dealers are receiving when closing deals is growing, as well.

For franchised (94.7 percent) and independent dealers (94.1 percent), the percentage of asking price received is up 2.9 percent and 4.1 percent, respectively, this month.  

 

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