Director of Industry Analysis
Last year saw record used car prices at $18,600 average per vehicle sold, and an all-time high for CPO sales of 2.55 million. Overall used vehicle prices climbed 5.6% in U.S. sales last year to a total of 38.3 million units sold. The popularity of leasing has been bringing younger and higher quality used cars back to the market. With a record number of lease terminations expected in 2016, for the foreseeable future there certainly will be no shortage of supply to meet the growing demand for used cars.
38.2M Used Vehicles Sold in 2015 Was Highest Single Year Since 2007:
Franchised dealers had had their highest single-year record with 11.4M units sold.
Heavy Influx of Lease Returns Saw Vehicles Sold at 4.4 Years from 4.6 Years:
Transaction prices increased 4.6% from $17,700 in 2014 to $18,600 in 2015.
CPO Sales Made Up 22.4% of Franchised Dealer Used Car Sales in 2015:
That was up from 20.9% in 2014 and 18.8% in 2010 for franchised dealers.