Used Sales Up After CDK Outage
July numbers reflect market volatility following weeks-long software shutdown following cyberattacks.
Used-vehicle days’ supply fell from 53 to 41 in July.
Pexels/Erik McIean
Used-vehicle sales jumped in July after the CDK Global software outage ended in the first week of the month.
The 28% surge translated to 1.6 million units sold for the month through franchised and independent dealers, according to Cox Automotive estimates. That’s up 17% year-over-year.
Days’ supply fell from 53 to 41.
“July experienced a noticeable increase in used-vehicle sales, likely signaling a healthy used-vehicle retail market plus some recovery of lost sales from June,” said Cox Senior Analyst of Economic and Industry Insights Scott Vanner.
The certified preowned segment was also up, by 2% to nearly 212,000 units, though volume was down 9% year-over-year, Cox said. Year-to-date CPO sales are so far down about 2% year-over-year.
DIG DEEPER: Navigating the Upside Down
Originally posted on Auto Dealer Today
More Showroom
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →
California Hybrids Reach State Record
The Golden State still leads the country in electric-vehicle registrations, but much like the rest of the U.S. its hybrid market share is up while full electrics stabilize after a dramatic first-quarter dip.
Read More →
My Mercedes in the U.S.
The German brand debuted its studio dealership concept for the first time in the states in Los Angeles, tapping Americans’ penchant for creative distinctions.
Read More →
Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
Read More →
California Launches EV Rebate Program
Participating automakers are matching the state's $13.5 million investment in new electric-vehicle rebates scheduled to take effect later this summer.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
The Trade-In Paradox
Retailing older cars with confidence in today’s market is a matter of establishing and following a clear process that can turn greater profit for auto dealers as they aim to meet used-unit hunger.
Read More →
Focus on Vehicle Cabins
The market for interior materials will grow in coming years as automakers look to meet consumer demand while staying competitive with changeups to sourcing and included features.
Read More →