Highlights of data and insights found within the report include:
Highest sales in almost a decade
The 38,276,140 used car sales recorded in 2015 was the highest single-year total since 2007, when 38,279,709 used cars changed hands. Franchise dealers, meanwhile, set a single-year record with 11.4 million used car sales.
Vehicles get newer, more expensive
The heavy influx of lease returns weighed the average age of used vehicles sold down to 4.4 years in 2015 from the previous year’s 4.6 years. Fifty-four percent of used vehicles sold last year were 3 years old or younger. And average used car transaction prices set a new record in 2015, increasing 4.6 percent from $17,700 in 2014 to $18,600 in 2015.
The CPO surge
There were more certified pre-owned sales in 2015 (2.55 million) than in any year on record. In fact, CPO sales have increased a staggering 55 percent in the last five years. CPO accounted for 22.4 percent of all franchise dealers’ used car sales in 2015, up from 20.9 percent in 2014, and up from 18.8 percent in 2010.
CPO shoppers are thorough researchers
According to an analysis of shopping behaviors on Edmunds.com, CPO shoppers clearly spend more time researching than all other shoppers, with more than twice as many page views and session durations as either new car shoppers or (non-CPO) used car shoppers.
The full 2015 Used Vehicle Report can be found at static.ed.edmunds-media.com/unversioned/img/industry-center/analysis/2015-used-market-report.pdf.
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