Used-car SAAR at highest rate of 2018

CARY, N.C.  - 

Thanks mostly to two fewer selling days, used-car retail sales last month declined an estimated 2 percent from April 2017 — but they’re pacing ahead of year-ago figures and reached the highest SAAR yet in 2018, according to Cox Automotive.

The seasonally adjusted annualized rate of used-car sales was at 39.7 million, company analysts estimate in the latest Manheim Used Vehicle Value Index report from Cox.

 Late last month, Edmunds was forecasting used-car sales to decline modestly from March, but with the SAAR expected to remain steady.

It projected April used-car sales of approximately 3.5 million units, compared to 3.7 million in March. The SAAR for both months, Edmunds said, was said to be at 39.2 million, Edmunds said in the April forecast. 

Within the certified pre-owned slice of the used-car market, a few automakers have shared results for the month, as well.

There were 1,602 Volvo CPO sales in April, down 1.4 percent year-over-year. Through four months, sales are up 7.7 percent at 6,585 units.

At Kia, dealers moved 6,078 certified units for the month, down 12.6 percent year-over-year. Year-to-date sales are at 25,589 units, down 3.1 percent.

Volkswagen CPO sales were up 40 percent in April, with 7,770 vehicles sold.

Porsche increased certified sales to 1,807 units, an 11.9-percent gain.

Mazda had a 14.7-percent increase with 4,090 CPO sales.

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