Jonathan Banks
Executive Automotive Analyst
NADA Used Car Guide
Gasoline prices rising 28 cents in August did little to change used price trend of past few months; Wholesale prices fell by better-than-expected 1.9% or $316 – 3rd month prices at or below 2% mark. Moderate loss another sign demand for used vehicles remained solid, compared to 3.5% drop seen many times in August.
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New Vehicle Sales Highest in Four Years:
August’s 14.5M unit SAAR best non-stimulus result since April 2008.
Ongoing Decline in Late-model Used Supply Continues to Support Used Prices:
Overall AuctionNet volume for units up to five years in age fell by 3.2% on sequential basis in August and volume so far year-to-date is down by 12.3%.
Rise in Gasoline Prices Did Little to Change Course Used Prices Have Been Following in Past Few Months:
Monthly losses most severe for compact and mid-size cars, while prices for majority of truck segments dropped just slightly.
