Significance of the Data
Kelley Blue Book predicts that new-car sales and leasing slumps of recent years will impact used-car values for years to come
In response to supply reductions, average value of 1- to 3-year-old used vehicle has increased from $15K in 2008 to more than $23K in 2011, nearly16% each year
It will take several years of strong new-car sales to replenish shortage of used vehicles driving values up today