Used Sales Flat, New Sales Dip from July

By Staff Writer September 09, 2021

Total used vehicle sales were down 12% year-over-year in August, according to the August 2021 Manheim Used Vehicle Value Index Data & Commentary.

“We estimate the August used SAAR to be 36.7 million, down from 41.6 million last August and flat compared to July’s 36.7 million SAAR,” the report stated. “The August used retail SAAR estimate is 20.1 million, down from 22 million last year and flat month-over-month.”

Using a rolling seven-day estimate of used retail days’ supply based on vAuto data, Cox reports that used retail supply peaked at 114 days on April 8, 2020. Normal used retail supply is about 44. It ended August at 40 days. Cox estimates that wholesale supply peaked at 149 days on April 9, 2020, when normal supply is 23. It ended August at 19 days.

August total new-vehicle sales were down 17% year-over-year, with one less selling day compared to August 2020. Month-over-month, August new vehicle sales were down 15% from July. The August SAAR came in at 13.1 million, a decrease from last year’s 15.2 million and August 2019’s 17.1 million rate.

Combined sales into large rental, commercial, and government buyers were up 11% year-over-year in August. Sales into rental increased 118% year-over-year in August and are up 7% compared to the same time-period last year. Commercial sales are down 4% year-over-year in August and are up 17% year-to-date 2021 versus 2020. Including an estimate for fleet deliveries into the dealer and manufacturer channel, Cox estimates that the remaining retail sales were down 19% year-over-year in August, leading to an estimated retail SAAR of 11.5 million, which was down from 13.0 million last August and down from August 2019’s 13.8 million rate.

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Last modified on Thursday, 16 September 2021 16:27