Sourced From: AutoRemarketing, April 1, 2008
Situation
1. Recent Wachovia survey indicates 28% of dealers say used-vehicle sales "above expectations"
2. Represents significant increase from 22% in previous survey, up 6%
3. Dealers have "just enough" used-vehicle inventory: 82%, compared w/ 80% previously
4. This measurement climbed from 64% last year
5. Wachovia Capital Markets surveyed 40 dealers, GMs, sales managers from dealer network
6. Releases equity research papers 6 times / year; small sample size, representing only 16 states
Significant Points
1. Used-vehicle demand appears to be climbing; demand for new vehicles falling
2. Movement largely reflects seasonal trends
3. Automakers pushed new-vehicle sales in Nov and Dec
Wednesday, April 9, 2008
Dealers Report Higher Used Car Sales
