Lifestyle

Is 2016 The Year for Used Car Sales?

Chloe Harwood
Written by Chloe Harwood

Nearly halfway through the 2016 year, and it’s proving to be important for used car sales.

Multiple news sources liked Edmunds.com has come out with reports that used car sales has increased by nearly 8 percent, and is proving to be the best year in terms of used cars sold in nearly a decade.

Car dealerships who saw record breaking new car sales in 2015, are seeing car buyers shifting gear and going with used car purchases. One Pennsylvania based dealership, Hillview Motors states that they are noticing that a number of clients are returning their leased vehicles after their 2 or 3-year lease periods, and quickly opting to purchase the vehicle as a certified pre-owned.

Another major cause that others are noting is that the major automakers FCA and GM haven’t come out with many new vehicle options so far in 2016. This comes as a surprise, as 2014 and 2015 were the year of a number of great redesigns and releases, specifically or Jeep brand with their Jeep Renegade and Jeep Cherokee.

With Memorial Day weekend in the United States, this is the point of the year that many dealerships begin to see the number of used car purchases increase, but with over 10 million used car units sold in just the first 90 days of 2016, we might expect more the same. Cox Automotive a subsidiary of Cox Media Group is predicting used car sales to eclipse 40 million units before years’ end, which will be the best annual sales for pre-owned vehicles in quite some time.

From a consumer perspective, after you have read the above information. Would you be more opt to buy new or used? And why. Also, why do you think used car sales are so high when in comparison to new? Some have theorized that because of an election year, there is a bit of uncertainty.

 

About the author

Chloe Harwood

Chloe Harwood