News Coverage
Plenty of ‘opportunity’ in used-car, CPO sales
Tuesday January 29, 2019
Article Highlights
- In its NADA Show press conference, Cox Automotive predicted full-year overall used-car retail sales of 39.5 million units for 2019, which would be consistent with last year’s figures.
- “The used-vehicle market came in at the best year for the expansion at over 39.5 million units, thanks to favorable supply and demand, helping that part of the business grow,” Zohaib Rahim, Cox Automotive’s manager of economic and industry insights, said of 2018. “However, looking forward, we are expecting a market that is post-peak,” Rahim said.
- Cox Automotive is projecting 2020 used sales of 39.2 million, following this year’s 39.5 million.
Auto Remarketing, Jan. 29, 2019 — It was the eighth straight year of record certified pre-owned car sales, amid an overall used-car retail market that is still seeing some strength.
And while there are signs the used-car market may have peaked from a sales volume perspective, the feeling around last week’s NADA Show 2019 — and in recent forecasts and analyses — is that there’s a still a lot of opportunity in this segment.