September used sales up 3.9%, as used luxury prices fall
September used-vehicle sales rose 3.9 percent from a year ago, says CNW Marketing, with franchised dealers doing even better, delivering used sales 5.4 percent improved from last year. By contrast, independent used dealers experienced a 7 percent drop over the same period. Used-vehicle transaction prices jumped almost 11 percent at franchised dealerships, with more certified pre-owned and newer used vehicles on the lot.
Passenger cars continue to increase used-vehicle sales share, rising 2.2 percent to 52.8 percent of used transactions. SUVs fell 14.4 percent to a 7 percent share.
The number of vehicles financed climbed 10 percent, to 69 percent. The number of buyers who used a pre-approved loan fell nearly 10 percent; and the number of subprime buyers slipped slightly, by 0.34 percent.
In pricing, used luxury-car prices dropped the most, continuing a slide from last month, according to Cars.com. Price drops for individual models ranged from 2 percent to 4 percent. Of the top 10 used models to see a 1 percent price increase, half were pickups or full-size vans. No luxury models made the list.Download Bulletin PDF