Year-over-year, the used vehicle industry sold about 3% fewer vehicles in June.
Photo via Omer Rana/Unsplash.
The used vehicle industry sold about 3% fewer vehicles in June on a year-over-year basis, according to Cox Automotive estimates.
The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
The company noted that year-over-year comparisons were difficult to make due to the inflated consumer demand last year that was driven by tariff and rising interest rates fears.
Looking at the new vehicle front, combined rental, commercial, and government purchases of new vehicles was up 5% year-over-year.
"Fleet sales have been strong throughout the first half of 2019, as the market is on course to deliver the highest volume of fleet sales in history," the company stated.
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