Used Sales Flat, But Franchised Up More Than 4%
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BANDON, Ore. –
In a used-vehicle market that was static overall, franchised dealers increased their used sales more than 4 percent from a year ago, moving 1.42 million pre-owned units off their lots in May.
That’s according to the latest sales recap released today by CNW Research, which pegged May’s overall used sales total at 4.39 million units. This total — which includes numbers from franchised and independent dealers, as well as private-party transactions — was essentially unchanged from May 2013, CNW said.
Used sales were up almost 11 percent month-over-month.
As franchised dealers increased their used sales 4.3 percent year-over-year, independents sold 1.42 million used cars for a 3.4-percent gain.
There were 1.36 million casual sales, down from 1.48 million in May 2013.
Average used-car transaction prices for franchised dealers came in at $15,467, a 25.5-percent year-over-year increase driven by what CNW described as a newer and pricier inventory mix.
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Meanwhile, transaction prices for independents fell from $7,218 to $6,883.
Prices in private-party deals climbed 8.3 percent to $7,519.
CNW said there was a 15-percent month-over-month and year-over-year increase in the total value of all monthly used sales, which it pinpointed at close to $45 billion.
