Jonathan Banks
Executive Automotive Analyst
NADA Used Car Guide
While used vehicle prices were up 1.2% in March, they took a big drop in April – down 1.7% from the previous month and much more than April 2012’s 0.5% decline. April saw the largest drop since November 2012’s loss of 1.5%.
Click here to read the latest NADA Used Car Guide Industry Update
The Month Further Eroded 2013’s Cumulative Advantage Over 2012:
Year-to-date used price appreciation fell from 0.8% in March, to just 0.2% in April.
Price of Regular Grade Gasoline fell by 14 Cents to $3.57 Per Gallon in April:
Not unexpectedly, car depreciation was led by compact and mid-size car segments
where prices fell by combined average of 2.1%.
Lower Gas Prices Helped Hold Losses for Large Pickups and SUVs at Just 0.5%:
Continued scarcity of supply is also helping to support prices for the 2 large truck segments.