Jonathan Banks
Senior Director of Editorial and Data Services
National Automobile Dealers Association
NADA Used Car Guide – June 2012
Direction of AuctionNet wholesale prices reversed course in May, down 1.3% from April due to seasonal downturn in demand, falling gasoline prices, and growing supply of late model fleet units entering the used market; First price drop since last Fall.
New Vehicle Sales Slow to a 13.7M SAAR in May:
Incentive spending up 4.8% to $2,542, days’ supply down 3 days to 53.
May Ends 4-month Period Where Appreciation Averaged Just Over 2.0% Per Month:
Compact and mid-size losses saw 3% losses during quick retreat of gas prices.
Growing Fleet Volume Placed Additional Downward Pressure on Prices As Well:
Over past 9 weeks, number of 2011 and 2012 MY compact car units hitting wholesale market increased 21%.