CNW Research believes the industry could return to the 16 million-unit level next year. What happens in Washington, D.C., will determine whether that prediction is realized.
Franchised dealers could grab as much as 40 percent of the used-car market in 2013. The segment was on pace in December to sell 15 million units for the year.
The market research firm says all signs point to an economic recovery next year if nothing disrupts the growing optimism among Americans.
The research firm says September sales are pacing at a 14.5 million annual rate, as consumers put economic concerns on hold until the Presidential election.
CNW Research says ‘fishy’ math was behind the 20 percent sales increase in August. The firm put the real increase at around 15.25 percent.
Subprime approvals are climbing, which could bode well for the rest of the year. But dealers will have to beef up their marketing to get more buyers off the sidelines.
Things didn't go as expected this month, with CNW reporting that the expected increase in floor traffic and closing ratios never materialized.
CNW's True Delivery Rate for the first 19 days of April has the industry tracking at 14.68 million units, with the firm predicting that dealers will move 1.25 million units by month end.
The market research firm estimates that BHPH dealers achieved $16.5 million in gross sales last year and sold about 2.5 million vehicles.
The use of home equity loans to buy new cars is on the rise again, though not nearly to pre-recession levels, according to Bandon, Ore.-based CNW Research’s Art Spinella.
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