Supply: Cox Automotive
Complete used-vehicle gross sales in February had been down lower than 1% from one yr in the past, in line with Cox Automotive estimates launched March 17.
The seasonally adjusted annual charge, or SAAR, was 37 million in February, which is down from January’s revised 38.7 million and down barely from February 2021’s tempo of 37.3 million degree.
“Used-vehicle stock has improved since final summer season’s provide drought, however product availability stays effectively beneath pre-COVID ranges,” in line with Charlie Chesbrough, senior economist at Cox Automotive. “And, the combination of merchandise contains extra newer automobiles, and thus fewer inexpensive choices to select from.”
Retail used-vehicle gross sales — the amount of automobiles offered through a dealership, thus eradicating personal social gathering gross sales — had been unchanged yr over yr. The February used retail SAAR estimate was 19.5 million down from 20.4 million in January.
Initially posted on Vehicle Remarketing