BANDON, Ore. — Countering a 9.4% decline in private party sales of used vehicles were franchised and independent dealers, who are scoring solid gains so far in December, CNW Research noted this week.
Franchised dealer are set to sell more than 1.24 million used vehicles this month, a gain of nearly 9% vs. a year ago. Leading the way are trucks sales, which accounted for more than half of that gain.
“Women are returning to the used-car market [like they are in the new-vehicle market],” CNW’s Art Spinella wrote in his company’s monthly enewsletter. “In 2007, 53 percent of used sales were sold to or for a female primary driver. In the recession, that slipped to under 40 percent. This year, nearly 46 percent of used sales were for a woman driver.”
CNW also noted an increase in pent-up demand for used vehicles, with early December data showing a 9% increase in the number of people who said they plan to buy a used car or truck soon.
“The desire and/or need for buying a used vehicle continues to build the basis for future sales,” Spinella noted. “The fourth quarter saw an 8% increase in potential future customers. The number of months these consumers say they are away from an acquisition fell by 24% to 2.2 months in December, clearly indicating a good start to the 2014 used-sales month.
“Of those who postponed an acquisition earlier this year, 93% have made a used purchase.”