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October Used Car sales look a lot like September’s

Edmunds is predicting 3.3 million used car sales this month, making October used car sales look a lot like September. The resulting used-car SAAR for the month is projected at 39.6 million – also on track with September’s reading, according to Edmunds data.

In September, there was nearly a 1-percent year-over-year gain in the annualized used-car sales pace, according to Cox Automotive. The seasonally adjusted annualized rate for used cars, which is a different measure, was approximately 39.4 million, compared to 39.7 million in September 2017, according to Cox Automotive.

Cox estimates that September used-car sales fell 2 percent year-over-year.

Going back a bit earlier in the year, there were 10.42 million used cars sold in the second quarter, compared to 10.17 million used sales a year ago, Edmunds said in a quarterly Used Car Report earlier this year. Franchised dealers moved 3.03 million used vehicles in the second quarter, up from 2.95 million in Q2 2017, according to Edmunds.

Meanwhile, the 10.57 million used car sales in the first quarter was the highest tally in an Edmunds data set of Q1 sales figures going back to 2013, according to the Edmunds Used Car Report following Q1.

Same goes for the 2.96 million used cars that franchised dealers sold during the opening period of 2018 and the 674,297 certified pre-owned cars they moved.

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