Retail sales have been trending downward in recent years and that trend is expected to continue as the industry’s supply of gently-used off-lease vehicles continues to grow.
The average sale price for a 3-year-old used vehicle was $14,951 less than its new equivalent in the third quarter of 2019.
The average transaction price for a new light vehicle in the U.S. was $37,590 in September, a 0.6% year-over-year increase, according to Kelley Blue Book.
The average three-year-old used vehicle cost buyers $14,443 less dollars then its new equivalent during the second quarter of 2019, according to the latest Used Vehicle report from Edmunds.
The number of unsold new cars and light trucks at U.S. dealerships reached nearly 3.8 million at the start of August, a 71-day supply.
The average interest rate for a new-vehicle loan dropped for the third month in a row in July, hitting its lowest level of 2019, according to Edmunds.
Improvements in infotainment systems and increased availability of advanced driver assistance systems are making customers increasingly satisfied with their new vehicles, according to the J.D. Power 2019 Automotive Performance, Execution and Layout Study.
The average transaction price for a light vehicle in the U.S. in June was $37,285.
New-vehicle prices are currently at record highs and the high prices are shifting sales away from new-vehicles and toward certified pre-owned vehicles.
The website iSeeCars compiled a list of top 10 vehicles with the highest rate of entering the used market one year after being purchased as new. Of those top 10, eight were luxury vehicles.