US Pre-Owned Car Sales Are Hot!
US pre-owned car sales top about 40 million units a year – about 3 times new car volume – making it a very significant national economic factor.
When the auto industry nearly imploded in recession, the pre-owned segment was also threatened. Low new car sales years, under 10 million units, reduced the pool of pre-owned vehicles. Economic uncertainty caused Americans to hang on to their cars longer, exacerbating the problem. And then the government “cash for clunkers” stimulus program took another whack at used car inventories.
With 5 years of steady recovery in new vehicle sales, currently beating all forecasts, pre-owned action is hot.
CarVision.com, a local high volume pre-owned dealer group, reports steady growth in sales that mirrors the new car marketplace, with best selling new cars like the Honda Accord, Nissan Altima, Audi A4 and the BMW 3 series the most in demand.
CarVision.com sees strong pre-owned sales of large SUVS and pick-ups, thanks to low fuel prices, and at the same time Toyota Prius hybrids are in great demand. Small SUVs and Crossovers are also hot in both new and used markets.