Used prices down from year ago, flat since December CNW

Used prices down from year ago, flat since December – CNW

Used vehicle prices are stagnant at both the retail and wholesale levels, says CNW Research. In January, transaction prices dropped 2.7 percent for franchised dealers from last January and remain unchanged from December. One problem is a growing supply. CNW estimates that January will show a nearly 50 days supply, up 13 percent from a year ago. Cars have a slightly higher supply (51 days) than trucks (48 days).

Retail used sales for franchised dealers rose an impressive 16 percent from a year ago. For the year, retail used sales were up 5 percent for franchised and independent dealers combined, with franchised dealers selling 1 million more units than independents.