MCLEAN, VA – Used-car sales by franchised new-car dealerships will likely top the 2006 total in 2007, according to an economic forecast by Paul Taylor, chief economist of the National Automobile Dealers Association (NADA).
“Used vehicle sales will receive increased attention by new-car dealerships. Continued low unemployment – averaging 4.6 - 4.8 percent in 2007, and an average of 130,000 people per month returning to work – is creating many used-car customers and a few additional new-car customers,” said Taylor. “Dealers will look for ways to increase used-car sales, and at least 100,000 additional used light vehicles are likely to sell at franchised new-car dealerships this year. Used-car sales and parts and service revenue will be an important focus for dealers this year.”
NADA represents approximately 20,000 new car and truck dealers holding nearly 43,000 separate franchises, domestic and international.