It’s not only the new vehicle market that’s showing signs of revival in February – used vehicle sales are up as well, with more than 1.8 million units changing owners.
This healthy sales trend comes during February, traditionally the slowest month in the previously owned trade.The latest data from CNW Research show that year-over-year sales of used vehicles were up 12%.
During 2010 almost 37 million used vehicles changed owners – roughly four times the rate of new vehicle sales in the sluggish U.S. economy, and this was without any help from government incentives. How this secondary market sorts out this year remains to be seen, but trade-in values are rising because of the demand, which also helps the new car market. Chart follows:
| February 2011 Used Vehicle Sales by – CNW Research | |||||
| Total | % Year | Dealers | Indep. | Casual | |
| Jan 10 | 1,887,089 | 5.1 | 658,594 | 668,030 | 560,465 |
| Feb | 1,612,382 | 4.4 | 584,972 | 561,431 | 465,978 |
| Mar | 2,394,721 | 6.5 | 859,944 | 842,463 | 692,314 |
| April | 3,286,712 | 8.9 | 1,193,076 | 1,133,916 | 959,720 |
| May | 4,186,861 | 11.4 | 1,461,633 | 1,558,768 | 1,166,459 |
| June | 4,623,459 | 12.5 | 1,575,467 | 1,701,317 | 1,346,675 |
| July | 3,962,875 | 10.7 | 1,414,893 | 1,492,225 | 1,055,757 |
| Aug | 3,942,136 | 10.7 | 1,354,150 | 1,415,337 | 1,172,649 |
| Sept | 3,086,412 | 8.4 | 1,067,425 | 1,118,378 | 900,609 |
| Oct | 2,593,623 | 7.0 | 891,773 | 877,081 | 824,772 |
| Nov | 2,501,348 | 6.8 | 836,701 | 796,679 | 867,968 |
| Dec | 2,806,369 | 7.6 | 917,842 | 844,525 | 1,044,002 |
| 2010 | 36,883,987 | 100 | 12,816,470 | 13,010,150 | 11,05,369 |
| Jan 11 | 2,006,423 | 706,060 | 716,895 | 583,468 | |
| Feb | 1,802,429 | 619,214 | 668,276 | 514,938 | |
| v Feb 10 | 11.79% | 5.85% | 19.03% | 10.51% | |
