Independents Boost Used-Car Market in August
Independent dealers are expected to drive the used-car market to a 4.7 percent increase in sales in August, according to CNW Research.
Independent dealers are expected to drive the used-car market to a 4.7 percent increase in sales in August, according to CNW Research.
The independent segment is up 13.2 percent in sales (1.42 million units) during the first half of the month, while franchised sales are down 1.2 percent (1.39 million units).
Total used-vehicle sales are expected to reach 4 million units in August and 26 million units year to date, according CNW.
Despite the sales increase by independents, overall used-car prices registered their third monthly decline, dropping to $10,219 for franchised dealers and $8,557 for independents.
Private-party (or casual) sales rose 2.8 percent in the first half of August to reach 1.23 million units, improving from a 4 percent drop in July.
CNW says paid advertising among private-party sellers has steadily dwindled since 2000, with the advent of free online advertising outlets, such as craigslist.com and Facebook.
“The impact of this trend doesn’t bode well for conventional means of selling used cars such as paid classified advertising in newspapers,” wrote CNW’s Art Spinella.
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