DP's Office

CNW: Used Sales Down 1.3% in Febuary

March 06, 2014

BANDON, Ore. — Bad weather in February hurt used-vehicle sales, but independent and private party sales were hurt the most, CNW Research reported this week.

Used-vehicle sales in February totaled 2.055 million units, down 1.3% from the year-ago period and more than 12% from January. Sales for franchised and independent dealers were off 2.46% and 2.15%, respectively, from a year ago. However, the selling environment wasn’t all that bad for franchised dealers.

“With a richer mix of inventory as well as a strong CPO market, franchised dealers were able to score a 6.1% increase in the value of vehicles sold compared to last year,” the firm noted. “Independents weren’t so fortunate, seeing the value of vehicle sold fall 4.3%.”

CNW noted that private party sales realized a 12.65% increase in the value of vehicles sold vs. a year ago and 16.5% vs. January.

In all, there were 2.3 shoppers for every buyer in February, down 2.67% in January. Additionally, the firm found the number of subprime buyers fell 21.43% vs. one year ago. The number of buy-here, pay-here customers also fell, dropping 16.7% vs. one year ago.

“Bad weather did deter many of those shoppers from searching outside of their market area for a used vehicle,” state CNW. “The share of buyers who bought within their marketing area climbed 18% compared to February 2013.”

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  



Dealertrack Completes Acquisition of Dealer.com

Dealertrack completes its acquisition of Dealer.com, which will continue to operate out of its headquarters in Burlington, Vt. The company's former CEO is being retained and will serve as executive vice president and group president of Dealertrack's newly formed Digital Marketing Solutions team.