Used Vehicles Sales Up Slightly YOY in November

Total used-vehicle sales were up 3% year over year in November, according to Cox Automotive estimates released Dec. 15 that are subject to change. November used seasonally adjusted annual rate (SAAR) is estimated to be 39.1 million, up from 38.1 million in November 2020 but down compared to October’s upwardly revised 40.7 million SAAR.

“Our used-vehicle sales estimates continue to show gains year over year despite slowing in November,” said Kayla Reynolds, manager of economic and industry insights for Cox Automotive. “Despite being inventory constrained, the used-vehicle market has been playing a key role in the recovery of the automotive industry.”

Retail used-vehicle sales — vehicles sold via a dealership, thus removing private party sales — were up 6% year over year. The November used retail SAAR estimate is 21.4 million, up from 20.2 million last year but down from 22.2 million last month.

Originally posted on Vehicle Remarketing