SANTA MONICA, Calif., Feb. 24, 2016 /PRNewswire/ -- Used car sales climbed 5.6 percent last year to a total of 38.3 million, according to a new report released today by car shopping destination Edmunds.com. The 2015 Used Vehicle Market Report further reveals that 2015 was a milestone year that saw record high used car prices (an average of $18,600 per vehicle sold) and an all-time high for certified pre-owned (CPO) sales (2.55 million).
"The key factor driving all of the trends in used car sales today is the popularity of leasing, which is bringing younger and higher quality used cars back to the market," says Edmunds.com Director of Industry Analysis Jessica Caldwell. "We're truly in the midst of a Golden Age for CPO and near-new used cars. And with a record number of lease terminations expected in 2016, for the foreseeable future there certainly will be no shortage of supply to meet the growing demand for used cars."
Highlights of data and insights found within the report include:
The full 2015 Used Vehicle Report can be found at http://static.ed.edmunds-media.com/unversioned/img/industry-center/analysis/2015-used-market-report.pdf.
About Edmunds.com, Inc.
Car shopping destination Edmunds.com serves nearly 20 million visitors each month. With Edmunds.com Price Promise®, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at 10,000 dealer franchises across the U.S. Shoppers can browse not only dealer inventory, but also vehicle reviews, shopping tips, photos, videos and feature stories on both Edmunds' wired site and on its acclaimed mobile apps. Regarded as one of the best places to work in Southern California, Edmunds.com was also named one of "The World's Top 10 Most Innovative Companies of 2015 in Automotive" by Fast Company. Edmunds welcomes all car-shopping questions on its free Live Help Line at 1-855-782-4711 and [email protected], via text at ED411 and on Twitter and Facebook. The company is based in Santa Monica, Calif. and has a satellite office in downtown Detroit, Mich., but you can find Edmunds from anywhere on YouTube, Pinterest, LinkedIn, Instagram, Google+ and Flipboard.
Contact:
Aaron Lewis
Edmunds.com Corporate Communications
www.Edmunds.com
Media Hotline: 310-309-4900
[email protected]
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SOURCE Edmunds.com
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