Used Car Price Gap Grows to $15K in Q3 Report
Edmunds’ latest Used Car Report finds high off-lease volumes have suppressed prices and widened the gap between new and 3-year-old models to an average of $14,951.
Edmunds’ latest Used Car Report finds high off-lease volumes have suppressed prices and widened the gap between new and 3-year-old models to an average of $14,951.
Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
Prices for used vehicles declined 4.2% in the first 10 months of 2019 while volume increased 5.2%, J.D. Power analysts say, a trend that has begun to affect the commercial market.
The U.S. PIRG Education Fund issued a damning report after finding one in every nine used vehicles for sale at 28 AutoNation-owned locations in 12 states is subject to an open recall.
Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.
Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.
U.S. sales of new cars and light trucks fell 1.2% year-over-year in August, a sales month that extended through the Labor Day weekend and set new records for Honda, Toyota, and Subaru.
Experian’s Q2 auto finance report consumers continue to uncover ways to manage monthly payments. For a record percentage of prime borrowers, that meant passing on a $32,000-plus new-vehicle loan in favor of a pre-owned unit.
Black Book’s Used Vehicle Retention Index shows a 1.4% month-over-month increase in August, a month in which all but a few pre-owned segments showed improvement.
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