TrueCar.com, which focuses on new car pricing, has released its September 2010 sales and incentives forecast. Among its forecasts are reports on the used car business, which could affect how you shop for a used car.
Here is what it reported on the used car market:
- Used car sales is estimated to be 3,288,000, down 16.6 percent from August 2010 and up 0.6 percent from September 2009.
- The ratio of new to used is estimated to be 1:3.45 for September 2010
- Hyundai/Kia is estimated to have their largest market share ever at 8.9 percent
- TrueCar said Hyundai/Kia is expected to show the biggest year-over-year increase in new-vehicle sales (59.5 percent), as it is predicted to move 84,723 units.
Why are those last two tidbits important on a used car website? Well, it means there will be lots of trade-ins at Hyundai/Kia lots. Dealers make money by selling used cars quickly and will want to clear their lots.
Also, because Hyundai/Kia dealers are enjoying new-found affluence from high sales volume, they might be more willing to negotiate price. People are coming to their lots to buy new cars. They're not thinking used cars.
Embrace Hyundai/Kia's success. Buy your next used car (assuming it passes the used car inspection with flying colors) from a Hyundai/Kia used car dealer. You'll probably have a wide selection to choose among.