Total used car sales fell 4% year-on-year in December, according to Cox Automotive estimates released Jan. 18. The seasonally adjusted annual rate (SAAR) has passed. December utilization is estimated at 39.1 million, down from 40.6 million in December last year and unchanged from November revised 39.1 million SAAR.
“Our used car sales estimates suggest a slowdown in sales through the end of 2021,” Kayla Reynolds, director of economics and industry insights, Cox Automotive, said in a press release. “Despite inventory constraints, the used vehicle market still plays a key role in the auto industry’s recovery.”
Used car retail sales – vehicles sold through dealerships, thus excluding private party sales – were down 5% from last year. The used retail SAAR estimate for December was 20.4 million, down from 21.6 million last year and unchanged from the previous month.
Originally posted on Vehicle Remarketing