Monday, Nov. 09, 2020, 03:59 PM
Used-vehicle sales last month fell 5% from October 2019, Cox Automotive estimated in analysis around its latest Manheim Used Vehicle Value Index, which was released Friday.
The company pegged the seasonally adjusted annualized rate for used-car sales to be 37.5 million for October, versus 39 million in September and 39.6 million in October 2019.
In what it deems retail used-car sales, meaning vehicles sold by an independent or franchised dealer, Cox estimated a used SAAR of 20.4 million in October.
In September, the used SAAR was 20.7 million, and in October 2019, it was 20.6 million.
A forecast from ALG and TrueCar in late October projected a 1% year-over-year gain in used-car sales.
Their forecast called for 3.3 million used sales for October, a 4% decline from September but representing the fifth straight hike in used sales, according to ALG/TrueCar.
Source : AutoFinanceNews