Alec Gutierrez
Senior Market Analyst, Automotive Insights
Kelley Blue Book
Auction values for 1-3 year old models at the end of Q3 2013 remained at 3-year high at an average of $17,085, or $280 above the 2012 average. Values have been down an average of $731 or 4.3% since the beginning of the year. This compares to a drop of $974 or 5.8% by the end of Q2 2012. KBB expects decline to continue through end of this year, while continuing to be higher than previous years’ auction values.
Check out Blue Book Market Report – Used Car Edition for September
Average Price at Auction Was $11,322 in Q3 2013, Up 3.9% from Q3 2012:
Average sale price of 1-6 year old models was $17,375 in Q3 2013, up 6% from Q3 2012.
Increase in Late-Model Prices Corresponds with Drop in Number Being Sold:
In 2007, more than 2/3 were within 6 MY old, in Q3 2013 dropped to less than half.
In August, Domestic Brand Values Exceeded Where they Were in Previous Years:
Trend continued into September with 2.6% increase year over year.
