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The retail used-car market, including the certified pre-owned segment, showed some real strength last month, improving from both year-ago and January figures. Citing data from its vAuto business unit, Cox Automotive estimated that used-vehicle retail sales in February climbed 18% month-over-month and 5% year-over-year.
This indicates that dealers feel pressure to lower prices while still facing challenges in offering the value consumers expect, as incentives remain below 2018 and 2019 levels. ” The survey also asks dealers to rate new-car sales and used-car sales separately, along with various key drivers, including consumer traffic.
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