Alec Gutierrez
Manager, Vehicle Valuation
Kelley Blue Book
While used vehicle supply has been rising at auctions (off-lease units contributing to it), increases in retail demand has offset some of the oversupply. There was a modest vehicle value decline of 0.89% in July 2013 – relatively mild and flat year-over-year. Hybrid and electric vehicles took the biggest drop that month – exceeding 3% decline in July despite an uptick in fuel prices.
Kelley Blue Book’ s Used Car Report for July
Hybrids and EVs See Biggest Price Drop this Year at 13.2%:
Lease deals are attractive on new models and high-mileage used cars very competitive.
In First Half of 2013, Auction Values Down 4.2% or $195 Overall:
Mid-size truck and sports car segments both up 2.3% for the year.
Mid-size Vehicles Continue Steady Downward Path, Moving Down 0.4% in July:
In some parts of US, auctions are inundated with Honda Accord lease maturity returns.