Retail Used Cars Down in Volume and Price for Dealers in March

Retail used cars dropped last month for inde­pen­dent and fran­chised deal­ers, accord­ing to CNW Research’s month­ly report. Retail used vehi­cles sales vol­ume actu­al­ly slid 6.3% last month as vehi­cle inven­to­ry was picked over in some parts of the coun­try; and a ready source of the hot or most pop­u­lar mod­els were unavail­able. Prices were down in March ver­sus a year ago as both inde­pen­dent and fran­chised deal­ers were ask­ing for 3.6% and 4.2% low­er prices, respec­tive­ly.

Check out the lat­est Retail Auto­mo­tive Sum­ma­ry

Fran­chised and Inde­pen­dent Deal­ers Received 1.5% Low­er Trans­ac­tion Prices:
On pos­i­tive side, both chan­nels had pos­i­tive per­cent­ages for share of ask­ing price
they received.

New Vehi­cle Sales Incen­tives Aver­aged $4,144 or 11.22% of MSRP:
Automak­ers picked up $3,398 of that cost with deal­ers the remain­ing $746.

Roll­back of Sub-Prime Approvals Has Con­tin­ued Over Past Six Months:
In March, sub-prime was off about 5.2% from pre­vi­ous month and more than 11% year-over-year.

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