Jonathan Banks
Executive Automotive Analyst
NADA Used Car Guide
Used vehicle prices slipped by 1.1% in August, matching average rate of decline seen in prior 2 months; August market saw bigger drops in past two years – down 1.5% in August 2012 and 2.3% in August 2011; NADA’s used vehicle prices index raised to 124.8 from July’s 123.5 and saw highest level recorded so far in 2013.
Click here for the latest NADA Used Car Guide
Large Pickups Continued to Outperform Other Used Vehicle Segments:
Wholesale prices increased by an average of 0.2% during month for large pickups.
Luxury Cars and Mid-size Vans Took Larger Losses at 2.0% and 1.7% Respectively:
Losses better for compact cars and utilizes (1.4% down) and mid-size cars and luxury utilities (dropped 1.2%).
NADA Predicts Decline Will be Less for Remainder of 2013 than in Years Past:
Increase in later-model supply, ongoing release of pent-up demand, historically low interest rates, and heated lender competition should fuel strong used prices.
