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.
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.