Pent-up demand for used cars and trucks sustained sales and profits through the first quarter of the year and into the spring, for now assuaging some dealers' year-end 2022 concerns about a potential slowdown.
Still, caution is the word on the used-vehicle side. Though demand was healthy through the 2023 spring selling season, gone is the level it was at in 2021, franchised dealership leaders told Automotive News. They are monitoring factors that could dent sales.
One is the continuing rise of interest rates, which has consumers browsing with added concern about heftier monthly payments. Dealers are also contending with unremitting scarcity of desired late-model used-vehicle inventory.