New car sales activity was very strong in July, but it didn’t go that way for used – down 1.9% versus a year ago, and down 0.37% from June. As for unit volume, July 2014 saw 4.496 million used vehicles sold – down from 4.584 million in July 2013 and 4.513 million in June 2014. August should be better as new-car sales trade-ins spike.
Franchised Dealer Sales Were Down 5.2% YOY but Up 1.4% Over June:
Independent dealer sales were similar to franchised, while Casual sales were up 6.5% over last year and down 3.8% from last month.
Value of Used Cars Sold in July Hit $47.4 Billion Industry-wide:
Up half percent over June and nearly 15% over year ago.
Number of 1-to-3 Year Old Vehicles Sold in July Rose with Growing Off-Lease Volume:
Two-year-old vehicles saw largest growth volume, coming in at up 10.8%.