The Industry's Leading Source For F&I, Sales And Technology

Finance

Used-Vehicle Sales Up 5.2 Percent in 2011, Reports CNW

January 03, 2012

The used-car industry not only had a good December, it had a good year, CNW Research reported today. Total used sales for December were up almost 12 percent, while sales for the year were up 5.2 percent.

Used-vehicle sales at franchised dealerships were up 8 percent, while sales at independents increased 5.8 percent from last year. Casual sales increased 1.1 percent, but CNW noted that private party sales experienced their fourth monthly sequential share increase, as a growing number of consumers used free Internet sites such as Craigslist to find buyers.

“Other online sites such as AutoTrader.com are also high on the list of private-party selling venues, with a 13 percent increase in vehicles offered on the Internet,” noted CNW’s Art Spinella, who reported that 3.142 million used vehicles were sold in December.

December also marked the highest monthly share of used-vehicle inventories being offered over the Internet, up from 69 percent last year to 73.1 percent. Total used-vehicle sales for the year ended at 38.79 million vehicles.

Spinella added that even though transaction prices in December were off slightly, more than 1 percent vs. a year ago, the higher volume pushed total value of used cars and trucks to $28.2 billion vs. 25.6 billion a year ago. Spinella noted that values are based on transaction prices in all three channels, and include aftermarket product sales such as service contracts. Taxes and fees were excluded, however.

“More Americans are shopping for used cars than a year ago,” wrote Spinella. “The number of ‘Shoppers to Buyers’ jumped by 20 percent vs. a year ago. In hard numbers, about 8.7 million consumers were actively on the hunt for a used car this December vs. 8.1 million a year ago.”

Comments

  1. 1. Laura [ May 22, 2013 @ 01:38AM ]

    Although the sales of used cars increased last year, we've found that they've increased in 2012 too. At our used car dealers ( http://www.motors.coop/ ) we've seen an increase in people buying 3-4 year old used cars rather than 04/05 plates which tended to be popular before. Let's hope the trend continues in 2013!

  2. 2. Laura [ May 22, 2013 @ 01:38AM ]

    Although the sales of used cars increased last year, we've found that they've increased in 2012 too. At our used car dealers ( http://www.motors.coop/ ) we've seen an increase in people buying 3-4 year old used cars rather than 04/05 plates which tended to be popular before. Let's hope the trend continues in 2013!

 

Your Comment

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

CLOSE [X]

READ NEXT

NADA to Release Results of 'Image Program' Study at Dealer Convention

The National Automobile Dealers Association will release results from the factory image program study it commissioned in October at its annual convention in February, the group’s incoming chairman told F&I and Showroom magazine.