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Who Buys Source

Profiling adults 18+ who are "very likely" to buy a used/pre-owned vehicle within the coming year:

GfK MRI, 2013

Of those adults 18+ who are "very likely" to buy a used vehicle within the next year, 52.0% are men and 48.0% are women.

GfK MRI, 2013

Adults 18+ who are "very likely" to buy a used vehicle during the coming year, by age group: 18-24, 18.9%; 25-34, 23.4%; 35-44, 19.5%; 45-54, 18.1%; 55-64, 12.0%; 65+, 8.1%.

GfK MRI, 2013

Adults 18+ who are "very likely" to purchase a used vehicle within the next year, by income level: $100,000+, 22.5%; $75-99,999, 12.4%; $60-74,999, 10.4%; $50-59,999, 7.6%; $40-49,999, 9.7%; $30-39,999, 10.4%; $20-29,999, 10.0%; under $20,000, 17.0%.

GfK MRI, 2013

Adults 18+ who are "very likely" to buy a used vehicle during the coming year, by race: White, 65.1%; Black, 18.7%; Other, 16.2%; Hispanic origin, 16.8%.

GfK MRI, 2013

Adults 18+ who are "very likely" to buy a used vehicle within the next year, by region: Northeast, 13.3%; Midwest, 22.6%; South, 43.2%; West, 20.9%.
 

GfK MRI, 2013

Adults 18+ who are "very likely" to buy a used vehicle during the coming year, by marital status: Single, 34.8%; married, 48.1%; separated/widowed/divorced, 17.1%.

GfK MRI, 2013

According to CNW Marketing Research, approximately 9.7 million consumers were actively shopping for a used vehicle in December of 2011, compared to 8.1 million in December 2010.

Auto Remarketing, 2012

According to a late-2011 survey by The Media Audit, major U.S. metro areas with the highest percentage of consumers who indicated they were planning to buy a used vehicle in the next 12 months: 1. Indianapolis, IN, 12.7%; 2. Charleston, SC, 11.5%; 3. Oklahoma City, OK, 11.2%; 4. Memphis, TN, 11.1%; 5. Detroit, MI, 10.5%; 6. (tie) Sacramento, CA, Spokane, WA, and Columbus, OH, 10.1%; 9. San Antonio, TX, 9.7%; 10. Kansas City, MO, 9.6%.

The Media Audit, 2011

When They Buy Source

Based on research by R.L. Polk, the average age of passenger cars in the U.S. in 2013 was 11.4 years, up from 9.9 years in 2003, while the average age of light trucks (including pickups and SUVs) was 11.3 years, up from 9.5 years in 2003.

R.L. Polk & Co., 2013

Monthly sales of used vehicle dealers (3-year average, 2008-2010): January, 8.1%; February, 9.2%; March, 9.4%; April, 8.7%; May, 8.6%; June, 8.7%; July, 8.5%; August, 8.7%; September, 8.0%; October, 8.0%; November, 7.0%; December, 7.1%.

U.S. Department of Commerce, 2011

Why They Buy Source

According to a 2011 survey by CNW Marketing Research, what buyers are looking for most in a used vehicle (more than one answer possible): Reliable for intended use, 95.4%; priced within budget, 92.7%; ready to drive, 88.6%; warranty on drive train, 76.2%; interior clean, 62.3%; exterior clean, 54.9%; fuel economy, 53.1%; dealer reputation, 46.7%; manufacturer's reputation, 41.2%; photos in ads, 36.8%.

CNW Marketing Research, 2011

How They Buy Source

The average selling price of a used vehicle at a franchised new-car dealership in 2012 was $17,547, up from $17,267 in 2011 and $16,474 in 2010.

National Automobile Dealers Association, 2013

According to Informa Research Services, the average financing rate for a 4-year used-auto loan was 4.77% in early 2012, compared to 4.92% six months earlier and 5.29% at the start of 2011.

USA Today, 2012

The average price of a used vehicle sold through an independent dealer in 2010 was $8,875, compared to $8,459 in 2009 and $8,358 in 2008.

CNW Marketing Research, 2011

Based on research by Experian Automotive, the average used-vehicle loan amount increased 3.9% from the third quarter of 2010 to the third quarter of 2011 -- from $16,706 to $17,359.

Automotive News, 2011

Average wholesale prices of various used-vehicle segments as of July 2011 (with change from July 2010 in parentheses): Compact car, $7,377 (+13.6%); Mid-size car, $7,961 (+9.3%); Full-size car, $6,720 (+24.8%); Luxury car, $13,879 (-3.0%); Sporty car, $13,103 (+6.9%); Compact pickup, $7,350 (+3.4%); Full-size pickup, $10,822 (-10.6%); Mini SUV, $10,386 (-0.9%); Midsize SUV, $9,426 (-7.2%); Full-size SUV, $11,824 (-16.2%); Luxury SUV, $19,638 (-10.2%); Mini van, $7,062 (-7.9%); Full-size van, $8,855 (+5.9%).

ADESA Analytical Services, 2011

Share of used-vehicle loans in the first quarter of 2011, by credit category: Super Prime (740-plus), 33.0%; Prime (680-739), 12.5%; Nonprime (620-679), 14.4%; Subprime (550-619), 17.4%; Deep Subprime (below 550), 22.8%.

Experian Automotive, 2011

The average customer down payment at a buy-here-pay-here used vehicle dealership was $1,059 in 2010, compared to $1,089 in 2008 and $900 in 2006.

National Independent Automobile Dealers Association, 2011

According to Experian Automotive, the top 20 used-car lenders accounted for only 38% of total used-car financing in the fourth quarter of 2010. In contrast, the top 20 new-car lenders claimed 81% of the new-car market. The No. 1 used-car lender, Wells Fargo Dealer Services, had a market share of about 7% in the fourth quarter of 2010.

Automotive News, 2011

What They Buy Source

Sources of used vehicles retailed by franchised new-car dealers in 2012: Trade-in on new vehicle, 39%; auction purchase, 24%; trade-in on used vehicle, 22%; street purchase, 6%; other, 9%.

National Automobile Dealers Association, 2013

The top five sellers of certified used vehicles in 2011, based on number of units (with percentage change from 2010 in parentheses): 1. Toyota Division, 331,805 (+5%); 2. GM Certified (single program covering Buick, Chevrolet and GMC), 285,957 (+6%); 3. Honda Division, 228,506 (+12%); 4. Chrysler Group (single program covering Chrysler, Dodge and Jeep), 114,852 (+7%); 5. Ford Division, 108,761 (-4%). 

Automotive News, 2012

Among certified used vehicles, the largest percentage sales increases in 2011, when compared to 2010: 1. Hyundai, +115% (48,867 units sold); 2. Volvo, +107% (12,964 units sold); 3. Mazda, +81% (18,976 units sold); 4. Volkswagen, +32% (72,969 units sold); 5. Audi, +31% (37,259 units sold). 

Automotive News, 2012

Based on a survey of independent used vehicle dealers, share of vehicles sold in 2010, by age of vehicle: 1-2 years, 8.3%; 3-5 years, 68.8%; 6+ years, 22.9%.

National Independent Automobile Dealers Association, 2011

According to a survey of independent used vehicle dealers, the percentage of respondents who sold the following categories of vehicles in 2010: Cars only, 9.6%; trucks only, 4.2%; both cars and trucks, 84.9%; heavy duty trucks/powersports units/RVs, 26.5%. 

National Independent Automobile Dealers Association, 2011

Where They Buy Source

Share of used vehicle sales in 2012, by channel: Franchised dealers, 37.0%; Independent dealers, 34.6%; casual sales, 28.4%.

CNW Marketing Research, 2013

CarMax is the nation's largest specialty used-car retailer. It buys, reconditions and sells cars and light trucks at approximately 100 superstores in 25 states, mainly in the Southeast and Midwest. CarMax sells vehicles that are generally under six years old with less than 60,000 miles. With an average selling price of more than $17,000 for one of its late-model used vehicles, and its "no-haggle" pricing policy, CarMax realizes a hefty $2,000 gross profit on each sale. The company's 2011 revenues totaled $8.976 billion, a 20.2% increase when compared to the previous year.

Hoover's, 2012

America's Car-Mart targets buyers with poor or limited credit histories through some 100 locations in more than a half-dozen states, primarily in smaller urban and rural markets in the South-Central region of the U.S. While its traditional business plan has focused on cities of 20,000 to 50,000 in population, the company has begun opening dealerships in more populous cities. The average sales price of a Car-Mart vehicle is approximately $9,100. Revenues for America's Car-Mart totaled $379.3 million in 2011, 11.9% higher than 2010.

Hoover's, 2012

Excluding CarMax, dealership groups with the highest number of used vehicle sales in 2010: 1. AutoNation Inc., 160,126; 2. Penske Automotive Group, 113,676; 3. Sonic Automotive, 91,177; 4. Van Tuyl Group, 73,687; 5. Group 1 Automotive, 66,001; 6. Hendrick Automotive Group, 47,799; 7. Asbury Automotive Group, 46,473; 8. Lithia Motors, 35,057; 9. Larry H. Miller Group, 27,179; 10. Bob Rohrman Auto Group, 19,346. CarMax sold a total of 357,129 used vehicles in 2010.

 

Automotive News, 2011

Business Trends Source

According to CNW Marketing Research, sales of used vehicles through franchised dealers, independent dealers, and transactions attributed to casual sales totaled 40.526 million in 2012, up from 38.792 million in 2011 and 36.884 million in 2010. 

CNW Marketing Research, 2013

Used-vehicle department sales accounted for an average of 31.8% of total revenue for franchised new-car dealerships in 2012, compared to 32.4% in 2011 and 33.1% in 2010.

National Automobile Dealers Association, 2013

The average gross profit on a used vehicle sold by a franchised dealership in 2012 was $2,098, down from $2,161 in 2011.

National Automobile Dealers Association, 2013

Through the first half of 2013, used commercial vehicle registrations were up 9.1% when compared to the first half of 2012.

R.L. Polk & Co., 2013

For the third year in a row, used-vehicle prices rose significantly in 2011. Strong consumer demand for late-model vehicles, coupled with a continued reduction in supply, promises to keep prices high in 2012, according to industry analysts.

Automotive News, 2012

Sales of used vehicles through franchised dealerships totaled 13.845 million units in 2011 (up 8.0% from 2010), while independent dealers sold 13.765 million vehicles in 2011 (5.8% higher than the previous year). Sales classified as casual transactions totaled 11.182 million in 2011 (up 1.1% from 2010).

CNW Marketing Research, 2012

Sales of certified used cars and trucks increased 6.4% in 2011 to to 1,742,147 units, up from 1,637,761 units in 2010 and 1,528,487 in 2009..

Automotive News, 2012

In October 2011, the average used-vehicle price was 56% of the average new-vehicle price. Typically, when the average used-vehicle price gets close to 60% of the average new-vehicle price, consumers who straddle the fence between purchasing new or used will choose new vehicles.

Automotive News, 2012

According to a 2012 study by J.D. Power and Associates, vehicles currently being traded in for new ones are approximately six years old, on average.

J.D. Power and Associates, 2012

Sales of car dealers specializing in used vehicles climbed 8.6% in 2010 to $74.577 billion, up from $68.685 billion in 2009. Used-car dealer revenues amounted to $75.447 billion in 2008.

U.S. Department of Commerce, 2011

A late-2011 survey by The Media Audit showed that among those adults who planned to buy a vehicle in the coming year, 54.7% expected to purchase a used one (up from 49.4% who said they would be buying used in a similar 2006 survey).

The Media Audit, 2011

The number of independent used vehicle dealers in the U.S. increased to 37,717 in 2010, up from 36,418 in 2009, but was still down from 42,791 in 2007.

CNW Marketing Research, 2011

According to a survey of independent vehicle dealers, percentage of the respondents who used the following advertising media in 2010 (more than one answer possible): Online, 68.9%; TV, 48.9%; newspaper, 44.4%; radio, 37.8%; specialty publications, 35.6%; magazine, 17.8%; other, 17.8%.

National Independent Automobile Dealers Association, 2011

The average number of vehicles sold by independent used-car dealers jumped to 351.0 in 2010, up from 308.8 in 2009 and 283.2 in 2008.

CNW Marketing Research, 2011

Approximately 11.0% of used vehicles were sold through the Internet in 2010, up from 7.5% in 2009.

CNW Marketing Research, 2011