Jonathan Banks
Executive Automotive Analyst
NADA Used Car Guide
Last year, used vehicle prices for units up to eight years old rose by 2.6%. While NADA expects used prices to fall for the first time in five years, the drop will be relatively mild, as on-balance, used market fundamentals remain predominantly favorable. Overall, used vehicle market should turn in another solid – albeit less remarkable – performance in 2013.
Click here to read NADA’s new automotive market report
For 2013, NADA Expects New Vehicle traditionalists Will Continue to Shift Focus Away from Used Vehicles:
This trend will have a progressively negative impact on used prices going forward.
Late-Model Used Supply Will Increase, but Overall Supply Will Continue to Fall:
NADA expects used vehicle supply for units up to 3 years in age to grow by 8% or 500,000 units in 2013, primarily result of 27% jump in off-lease volume.
NADA Predicts Price of Units Up to 8 years in Age Will Average $14,215:
Down 1.6% this year from 2012’s figure of $14,445.