Edmunds.com: Used Sales Up for Franchised Dealers, Down Overall
Used-car sales are down for the first half of the year, but not within the franchise and CPO segments, Edmunds.com reveals.
SANTA MONICA, Calif. — Used-car sales fell 3.4 percent to 18,995,521 units sold through the first half of 2013, according to Edmunds.com. But the vehicle information site said not all areas of the used-car market struggled.
According to Edmunds, used-car and certified pre-owned sales by franchise dealerships were up 6 and 12.5 percent, respectively, in the first half.
“These trends suggest that the used-car market continues to be driven by lease returns and vehicle trade-ins,” says Edmunds.com Director of Used Car Analysis Joe Spina. “And with franchise sales up 20 percent from the first quarter to the second quarter, it appears that franchised dealers’ used-car sales are gaining momentum as the year progresses.”
As for used-car pricing, Edmunds found that the average prices at franchised dealerships fell $118 to $15,986 in the first half. As for what sold, Edmunds found that Hondas sold fast at franchised dealers than any other used-car brand in the second quarter; Lincolns sold the slowest.
The top-selling used vehicles by segment remained mostly unchanged in the second quarter. The two major exceptions was the Ford Edge unseated the Chevy Equinox in the midsize SUV segment, while the Mercedes-Benz GLK-Class knocked Lexus RX350 off the top perch among entry-level luxury SUVs.
Additionally, Edmunds said it expects a material increase in used hybrid inventories in the third quarter due to the increase in hybrid vehicle leases in 2010.
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