While CPO outperformed total and retail used-vehicle sales in May, CPO sales are most likely muted due to high prices, declining credit availability and high interest rates.
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Higher prices and higher interest rates are slowing the seasonally adjusted annual rate of sales in the used market.
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Higher interest rates, coupled with high gasoline prices and high vehicle prices, are keeping used sales in Q2 low.
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Incentive spending is projected to reach $4,159 (up 6% or $246), the highest level ever for the third quarter and just $28 short of the all-time quarter high set in Q4 2017.
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The industry is expected to sell 1.13 million new vehicles in January, a 3% decline over the same time last year, and a 33% decline from the month before, according to Kelley Blue Book, resulting in a seasonally adjusted annual rate (SAAR) of 17.4 million.
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Edmunds.com is forecasting the sale of 1,629,011 new cars and trucks in December. If realized, the prediction puts the seasonally adjusted annual rate (SAAR) at 17.7 million, an 18.5% increase from the same time last year.
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