New Car Sales Slipping as Used Cars Boom, Says Orange County Based Get My Auto

Irvine, CA, November 22, 2016 (Newswire.com) - ​​​The last couple of years have brought a great deal of good news for the new car industry. Sales have not only held steady, but even reached record heights, as they did in 2015. New car sales for 2016 have been respectable, yet in recent months there has emerged a new trend—a slight decline in new vehicle sales and a rise in used vehicle sales. Orange County based automotive company Get My Auto has responded to this sea change in a new statement to the press.

“This all boils down to a shifting consumer trends," says Get My Auto. “People increasingly want the value that used cars can provide and new car dealerships haven’t quite caught up with this yet.”

Credit rating agency Experian affirms that used cars are in a better place than new ones. “We have begun to notice significant acceleration in used vehicle sales comps from franchised retailers. KMX also saw 8 percent same store growth in their non-subprime units in Q2 vs. total same store growth of 3 percent,” the agency notes.

There are many reasons for this change in consumer behavior and according to Get My Auto, it all starts with price. “The average price of a new vehicle continues to rise, and at this point exceeds $30,000,” Get My Auto explains. “Even with dealership discounts and incentives, that’s still a lot of money.”

Used cars, meanwhile, offer greater value. “The price for a two- or three-year-old car may be half its original sticker price, yet a good car will hold up after accruing a good many miles,” says Get My Auto. “That reliability makes used cars an excellent value for consumers.”

Combine this with the fact that most consumers simply do not enjoy shopping at new car dealerships and the trend begins to make sense, Get My Auto concludes.​

“We predict that the preference for used over new vehicles will continue—at least until new car dealerships learn how to make themselves more competitive and more consumer-friendly,” the company states.

Follow Get My Auto on social media to learn more about everything that is going on in the world of used vehicles.

About Get My Auto

Orange County based Get My Auto is an informational website about used vehicles. Its aim is to educate consumers about their pre-owned vehicle choices. Content on the site includes automotive reviews, cost data, and general tips about seeking out and purchasing used vehicles. More information can be found on the Web at www.getmyauto.com. Get My Auto is headquartered in Orange County, California.

Additionally, Get My Auto can be contacted at 17901 Von Karman, Suite 667, Irvine, CA 92614, or reached by phone at 949.408.3264

Source: Get My Auto