Manheim economist Tom Webb said it’s “quite easy and quite logical to assume” that used-vehicle retail sales will hit an all-time high before 2015.
Webb backed up his projection by highlighting how used-vehicle retail sales during the first quarter of 2013 moved 12 percent higher year-over-year against some headwinds that are slowing other industries.
According to Webb, one of the primary drivers of used-vehicle sales is the availability of financing.
“On any given day, there are literally hundreds of thousands of vehicles with owners who would like to trade up to get something a little bit better if they could do so with an affordable monthly payment. Given the availability of retail financing, a natural changeover of those vehicles over time will occur,” Webb said last week during Manheim’s quarterly conference call with analysts and the media. READ MORE…