November Used Retail Prices Jump Up from Post Hurricane Demand

Art Spinel­la
Pres­i­dent
CNW Research

Prices for used vehi­cles jumped more than 3.2% in Novem­ber com­pared to year before for fran­chised deal­ers and near­ly 3.5% for inde­pen­dent deal­ers; Demand came from Hur­ri­cane Sandy and result­ing used-car inven­to­ry loss­es; Share of ask­ing price for fran­chised deal­ers was at 94%, a per­cent­age gain over Octo­ber.

Click here for CNW Research’s Novem­ber Retail Auto­mo­tive Sum­ma­ry

Used-Vehi­cle Sales Were Up 17.6% vs. a Year Ago:
Fran­chised deal­ers up 39% and inde­pen­dent deal­ers climb­ing 41%, pri­vate par­ty sales down 23%.

Emo­tion­al Buy­er – “Always Want­ed One” Par­tic­u­lar Make and Mod­el – Return­ing:
Most recent data show more than 7% of used-car shop­pers are look­ing for that “spe­cial” vehi­cle.

In Next 2 Years, Expect­ing Total Used Share to Swing More to Pri­vate Par­ty:
Grow­ing will­ing­ness to use craigslist, eBay Motor, Auto­Trad­er, and oth­ers.

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