Used Car Values Stabilized by Responsible OEM Actions
Used car prices have recovered somewhat and should be stable in all segments through the end of 2009. This is supported by automakers not overproducing, not relying on incentives, and not selling too many discounted vehicles to rental and commercial fleets.
New Vehicle Demand Still Dropping
"Cash-for-clunkers" or CARS program stimulated buying in August 2009 and led to a 40% market share increase for compact and subcompact cars. However, September sales estimates are now predicted to be the lowest ever at only 8.8M.
US Consumers Think Big Again With Lower Gas Prices
High gas prices caused residual values of used pickups and large SUVs to plummet and small cars to increase. Lower prices this year have reversed the trend back to buying bigger vehicles.
Chrysler to Lease 2010 Vehicles Through GMAC
Chrysler announced it will lease 2010 Jeep, Dodge and Chrysler vehicles through GMAC, which resumed leasing General Motors vehicles in August. Chrysler had used Chrysler Financial but moved to GMAC under the company's bankruptcy reorganization.
