NIADA Releases 2007 Used Car Industry Report
June 08, 2007 (PRLEAP.COM) Business NewsArlington, TX, June 2007 — The month of June marks the annual publication of NIADA’s Used Car Industry Report. The NIADA has published this report for the past nine years giving insiders a guide to the trends that are currently shaping and driving the industry. This year's edition includes two new editorial pieces offering insight into the industry. Tom Kontos, vice president of ADESA’s Analytical Services, explains the effect new car incentives are having at the auctions. Tom Webb, chief economist for Manheim, discusses why it may better to be in the used car business than in the new car business today.
"The Used Car Industry Report is a diverse publication while remaining true to its goal of being thorough, accurate and familiar," said Mike Linn, NIADA executive vice president and CEO. "We are thrilled to once again bring all this research together in one place and we hope it helps with the success of independent dealers."
The industry information is presented in three sections. The first section describes data from NIADA Members. It will show you how your business is doing in comparison to other independent dealers across the country. Section two has information from CNW Marketing research, an industry research leader. CNW crunches numbers each day from independent and franchised dealers and these statistics will give you insight on the trends they’ve noticed. This section also breaks down how sales and businesses compare to past years. The last section is composed of benchmarks from the Buy-Here, Pay-here side of the industry. This data examines the best performing dealers from the Shilson, Goldberg, and Cheung database of more than 500 dealers nationwide.
The 2007 Used Car Industry Report is currently being mailed to all NIADA members. You can pick up your own copy at the NIADA Convention & Expo in Nashville, Tennessee, at the registration booth. To get instant access to this year's report log onto www.niada.com and click on the Used Car Industry Report image to view it.
2007 Used Car Industry Report Highlights
• Independent dealers nationwide sold 13.71 million vehicles in 2006
• The average vehicle price decreased from $8,545 in 2005 to $8,492 in 2006
• New and used vehicle sales were down from 61.13 million in 2005 to 59.11 million vehicles in 2006
• Buy-Here, Pay-Here dealers spent less money in 2006 on reconditioning vehicles and slightly more for the vehicles themselves than they did in 2005.