Used car market down even as franchise dealers enjoy a boom

Aug. 6, 2013
Franchise dealerships' used car sales increase.

Overall used car sales are down 3.4 percent through the first half of 2013, reports Edmunds.com, a resource for car shopping and automotive information. According to Edmunds.com's 2013 Q2 Used Car Market Report, 18,995,521 used cars were sold in the U.S. through the first six months of the year, down from 19,666,671 used cars sold during the same period in 2012.

But, says Edmunds.com, not all areas of the used car market are struggling: used car sales by franchise dealerships are up 6.0 percent and certified pre-owned (CPO) sales are up 12.5 percent in the first half of 2013.

"These trends suggest that the used car market continues to be driven by lease returns and vehicle trade-ins," says Edmunds.com Director of Used Car Analysis Joe Spina. "And with franchise sales up 20 percent from the first quarter to the second quarter, it appears that franchise dealers' used car sales are gaining momentum as the year progresses."

Other highlights from Edmunds.com's 2013 Q2 Used Car Market Report include:

Average used car prices at franchise dealerships are down $118 in the first half of 2013 to $15,986. Hondas sold faster at franchise dealerships than any other used car brand in the second quarter; Lincolns sold the slowest. The top-selling used vehicles by segment remained mostly unchanged in the second quarter. The two major exceptions: Ford Edge unseated Chevy Equinox in the midsize SUV segment and Mercedes-Benz GLK-Class knocked Lexus RX350 off the top perch among entry-level luxury SUVs. Because hybrid vehicle leases increased in earnest in 2010, Edmunds.com expects a material increase in used hybrid inventories in the third quarter of this year. (Edmunds.com offers advice for car buyers looking to buy a used hybrid vehicle at http://www.edmunds.com/car-buying/tips-for-used-hybrid-car-shopping.html.)

Edmunds.com's 2013 Q2 Used Car Market Report is available for free at http://www.edmunds.com/industry-center/data/used-car-market-quarterly-report-q2-2013.html.

Sponsored Recommendations

ZEUS+: The Cutting-Edge Diagnostic Solution for Smart, Fast, and Efficient Auto Repairs

The new ZEUS+ simplifies your diagnostic process and guides you through the right repair, avoiding unnecessary steps along the way. It gives you the software coverage, processing...

Diagnostic Pre- and Post-scan Reports are Solid Gold for Profitability

The following article highlights the significance of pre-scans and post-scans, particularly with Snap-on scan tools, showcasing their efficiency in diagnosing issues and preventing...

Unlock Precision and Certainty: TRITON-D10 Webinar Training for Advanced Vehicle Diagnostics

The TRITON-D10 lets you dig deep into the systems of a vehicle and evaluate performance with comparative data, systematically eliminating the unnecessary to provide you with only...

APOLLO-D9: Trustworthy Diagnostics for Precision Repairs

The APOLLO-D9 provides the diagnostic information and resources you need to get the job done. No more hunting through forums or endlessly searching to find the right answers. ...

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!