Total used-vehicle sales were down 13% year over year in September, according to Cox Automotive estimates released Sept. 15. This brought the seasonally adjusted annual rate (SAAR) of sales to 35.7 million, down from 40.9 million last September and flat compared to August’s 35.7 million SAAR. Total used-vehicle sales volume last month was estimated at 3 million, marginally down from 3.1 million in August.
“The used-vehicle market has played a key role in the recovery of the automotive industry, and what we have seen this year is a dynamic performance through the first half of 2021 with inventory impacting the third quarter’s performance,” said Kayla Reynolds, manager of economic and industry insights, Cox Automotive, in a news release. “As we forecast, the used-vehicle sales pace slowed in September.”
Static due in part to rising prices, retail used-vehicle sales — vehicles sold via a dealership, thus removing private party sales — stayed flat month over month in September, at an estimated 1.6 million, compared to 1.67 million in August and 1.8 million in September 2020. The September used retail SAAR estimate is 19.5 million, down from 21.7 million last year and flat month over month.