- Posted April 24, 2014 by
Certified used car sales on the rise
As new car sales continue to be on the rise, sales of certified pre-owned vehicles are also growing at a steady rate. Last month, certified used sales increased 9 percent from the same time last year, and 11 percent for the year so far. According to Automotive News, 2013 was a record breaking year, with certified used car sales reaching an all-time high of 2.1 million vehicles sold.
GM was the largest selling used brand in March and has been for the year so far. The brand doesn’t seem to be affected by the recall news, as sales have been up 13 percent for the quarter and 2 percent for last month.
Toyota was down 4 percent in used sales for the quarter, but is still only a few thousand units behind GM for the year. Toyota said that they are focusing on new vehicle sales at the moment, which is lowering their used sales. The Japanese automaker also has less lease vehicles being returned in 2014, due to the aftermath of the tsunami in March 2011.
Ford and Chrysler are both up over 20 percent so far this year, which is good news for used car shoppers. Pricing on used vehicles has been going down slowly as new vehicle sales have picked up. There is a larger selection of late model certified pre-owned vehicles on the market now when compared to a few years ago.