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CPO Sales Regain Momentum in October, Cruise Toward Another Record

Sales of certified pre-owned (CPO) vehicles increased 8% year over year in October and were up 12% month over month compared to September. For the month, 230,346 CPO units were sold. This year CPO sales are up 2.9% versus 2018, growing at a comfortable pace above 2018’s record-setting performance and exceeding 2.3 million sales through … Continued

Large Dealer Groups See Double-Digit Increase in Q3 Used-Vehicle Sales

New-vehicles sales year over year remain weak and are down 1.2% year to date but are in a better position than last quarter. Fleet sales are up 4% this year, but retail sales are down 2%. The used-vehicle market, on the other hand, continues to see favorable performance.This shift in vehicle demand, away from new … Continued

13-Month Rolling Used-Vehicle SAAR

As another data point to monitor the health of the automotive market, Cox Automotive calculates a 13-month rolling used-vehicle seasonally adjusted annual rate (SAAR). According to Cox Automotive estimates, total used-vehicle sales volume was up 1.4% year over year in October. We estimate the October used SAAR to be 39.6 million, up from 38.1 million … Continued

Strong Fleet Sales Have Supported New-Vehicle Market This Year, but Growth is Slowing

Combined rental, commercial and government purchases of new vehicles were down 10.8% year over year in October. Total fleet volume in October was 182,209, compared to 204,373 in October of 2018. The commercial fleet channel was the bright spot, with sales up 17% year-over-year last month. The other channels declined. Nissan was the top performing OEM … Continued

Leasing Penetration Trending Above Overall 2018 Level

The 2019 retail leasing volume has decreased 1.3% year over year through August, roughly in line with the overall market. Lease penetration, however, is at 29.6% through August and is running above where we finished last year at 28.6%. In August, the average leasing payment was $485, a 2% year-over-year increase per Cox Automotive estimates. … Continued

CPO Sales Rolling in 2019

Sales of certified-preowned (CPO) vehicles decreased 4% year over year in September but were up 4.7% in Q3 versus Q3 2018. For the month, 204,946 CPO units were sold.  This year CPO sales are up 2.4% versus 2018 with over 2.1 million CPO units sold through September. CPO sales are growing at a comfortable pace … Continued

Strong Fleet Sales Help Prop Up Slow September

By volume, U.S. auto sales in September were weak, with the overall market down 11% from year-ago levels. One bright spot was fleet sales: Combined rental, commercial, and government purchases of new vehicles were down only 7.3%, beating the overall market. The commercial fleet channel performed particularly well, up 18% year over year in September, … Continued

CPO Sales Crush It In August

Sales of certified pre-owned (CPO) vehicles increased 11% year over year in August and were up 10% versus July. The increase was primarily driven by the shifted calendar which brought an extra selling day (including Labor Day) into last month. For the month, 260,725 CPO units were sold. Over 1.9 million CPO vehicles have been … Continued

August Fleet Sales See Double-Digit Growth in Commercial and Rental Channels

Combined rental, commercial and government purchases of new vehicles were up 23% year over year in August, and up 18% month over month. The commercial (+10%) and rental (+45%) fleet channels were up in August. Automakers like Fiat Chrysler Automobiles, General Motors and Nissan all achieved notable gains in fleet sales. Fleet sales are now up 7% … Continued

July CPO Sales Trend Continues Favorable Momentum

Sales of certified pre-owned (CPO) vehicles increased 6% in July compared to July 2018 and were down 2% compared to June. For the month, 236,579 CPO units were sold. Over 1.6 million CPO vehicles have been sold in 2019, up 2% year to date versus 2018. This year CPO sales are growing at a comfortable … Continued