Jonathan Banks
Senior Director of Editorial and Data Services
National Automobile Dealers Association
Click here for NADA Used Car Guide
June wholesale prices remained true to seasonal form as softness in demand typically seen in spring helped pull overall market prices down 1.7% compared to May; 60 cent drop in gasoline prices over past two months caused compact and mid-size car prices to drop by wider margin.
New Vehicle Market Continued to Improve in June, Up 22.2% Over Year Ago:
Good enough to leave consensus forecast for full-year sales un-changed at 14.4M.
NADA Expects Used Price Depreciation in August Will Be 3.5%:
Or nearly point greater than what is anticipated for this month.
Keeping in Mind Current state of Economy and Clouds Looming on Horizon:
Potential for future cuts to NADA’s forecast appear greater than likelihood of upward revisions.
