Spinella: Used retail volume down, NADA digs into new car preferences August 7, 2014
Spinella_Art_ head shot

New Car Sales Saw Growth While Used Went the Other Way

Art Spinella
CNW Research

New car sales activity was very strong in July, but it didn’t go that way for used – down 1.9% versus a year ago, and down 0.37% from June. As for unit volume, July 2014 saw 4.496 million used vehicles sold – down from 4.584 million in July 2013 and 4.513 million in June 2014. August should be better as new-car sales trade-ins spike.

Here’s the July sales report from CNW Research’s Art Spinella

Franchised Dealer Sales Were Down 5.2% YOY but Up 1.4% Over June:
Independent dealer sales were similar to franchised, while Casual sales were up 6.5% over last year and down 3.8% from last month.

Value of Used Cars Sold in July Hit $47.4 Billion Industry-wide:
Up half percent over June and nearly 15% over year ago.

Number of 1-to-3 Year Old Vehicles Sold in July Rose with Growing Off-Lease Volume:
Two-year-old vehicles saw largest growth volume, coming in at up 10.8%.

Fuel Economy is Leading Preference for New Vehicle Buyers

Jonathan Banks
Executive Automotive Analyst
NADA Used Car Guide

NADA Used Car Guide conducted its annual survey on new vehicle preferences and found that fuel economy is highest-ranked factor for consideration among both car and truck buyers. Both car and truck buyers said that Cost of Ownership and Power & Performance came in at second and third most important. Consumers are looking beyond the brand image.

Click here to download NADA’s 2014 New Car Shopper Preference Survey

Highest Representation Came from “Pickup Truck” and Midsize Car” Segments:
Survey takers visiting NADAguides.com once again represented car and truck drivers almost equally.

76% of Car Drivers Have Interest in Buying Another Car – Down 1 Percentage Point from Last Year:
77% of truck drivers want to buy another pickup, utility or van – up 3 percentage points.

Little Surprise that Factors Related to Technology and Driver-Assistance Scored Poorly:
Considering they were among the least considered factors in the last survey.
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