Used-vehicle sales across the industry may move down sequentially this month, but the seasonally adjusted annualized rate should maintain, according to a forecast released Thursday by Edmunds.
The company is calling for 3.3 million used-car sales this month, following April sales of 3.4 million used units and 10.2 million in the first quarter.
Meanwhile, ALG is forecasting 3.23 million used-car sales for May, which would be a 5.4-percent decline from a year ago.
Edmunds is looking for May’s used-car SAAR to reach 38.3 million used sales, which is consistent with April.
According to Edmunds’ Used-Vehicle Market Report released earlier this month, first-quarter used-car sales were off 1.3 percent year-over-year.
However, it was still ahead of the 9.8 million used vehicles sold in Q1 of 2015, the 9.6 million in Q1 2014 and the 9.8 million in Q1 2013.
Franchised dealers sold 2.9 million used units in Q1, down 0.3 percent but ahead of the first quarter numbers in each of the four other years included in the Edmunds data set (2012-2015).