BANDON, Ore. — Despite a 6.5 percent decline in the number of used-car shoppers through all retail channels, CNW Research reported today, September used-vehicle sales were 3.9 percent ahead of one year ago — with both franchised and independent dealers retailing more than 3.64 million units vs. September 2012’s more than 3.51 million-unit total.
Leading the way were franchised dealerships, which retailed 5.44 percent more used vehicles than one year ago. Used-vehicle sales for independents were down 6.99 percent, while private parts sales were up 18.9 percent.
Transaction prices for franchised dealers, which benefited from more available certified pre-owned and newer used-vehicle models, were up nearly 11 percent from a year ago. Transaction prices for independents were up slightly, increasing 0.7 percent from a year ago, while private-party sellers got 1.22 percent more than a year ago.
Passenger cars increase their share of the used-car market by 2.24 percent, and now account for 52.8 of used transfers. Market share for SUVs decline 14.4 percent and now represent 7.3 percent of used transfers.
Additionally, the number of vehicles financed climbed 10 percent from 62.7 percent a year ago to 69 percent in September. Down, however, were pre-approvals, which fell 9.8 percent, according to CNW. Also slipping were the number of subprime buyers, which inched down 0.34 percent to 920,136 units purchased.
CNW Research also reported that Detroit and European share of used sales slipped while Asian brands increased by 10 percent.