The research firm attributed the 2% gain in used-vehicle sales to higher CPO sales and a growing inventory of fresh off-lease vehicles. Even independents felt the trickledown effect of quality used vehicles.
The number of consumer strictly adhering to their budget is dropping to pre-recession levels, according to the firm’s monthly report. And the number of car buyers for whom price is no object is on the upswing.
In its latest newsletter, CNW Research says that even the slightest economic issue could upset the auto industry in 2015.
Used-vehicle sales motivated by online ads outpaced purchases motivated by print newspapers for the first time, CNW reports. The firm also noted that private party sales showed the biggest increase in December.
Floor traffic, closing rations and subprime approvals are all up so far this month, according to CNW Research. It believes the gains bode well for 2015 sales.
The market research firm’s prediction is based on skyrocketing subprime approvals and an active Hispanic consumer market, which, for the first time, could outpace African-Americans in new-vehicle purchases.
Concerns over GM and other recalled vehicles drove shoppers to Asian and European models in June, according to data from CNW Research.
Used-vehicle sales in May increased nearly 11% from April, according to CNW. Franchised dealers led the way with a 4.3% increase in sales vs. one year ago, while independents realized a 3.4% increase.
CNW reported this week that sales picked up in late May, with the firm expecting deliveries for the month to increase 11% from a year ago.
The market research firm says improvements in several key metrics last month are setting the stage for a spring rebound in vehicle sales.
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