Dealers saw mixed results in February used retail sales. Total used sales came in at 2.055M units, down 1.3% from year ago’s 2.082M and more than 12% behind January. Franchised dealers were down 2.46% and Independents down 2.15% from year ago. Value of the vehicles sold went up 6.1% compared to last year for Franchised dealers; richer mix of inventory and strong CPO market helped.
Independents Had Tough Month – Seeing Value of Vehicles Sold Fall 4.3%:
Private Party saw 12.65% increase in value over last year – with Asian models leading.
Number of Used Car Shoppers Fell 15.3% from Year Ago and 16.5% from January:
There were 2.3 shoppers for every buyer in February, down from 2.67 in January.
Sub-Prime Buyers Dropped 21.43% vs. February 2013:
Buy Here Pay Here also declined – 16.7% down from February 2013.