Alec Gutierrez
Manager, Vehicle Valuation
Kelley Blue Book
Here’s the first used car report edition of Blue Book… The spring market uptick was pretty mild this year, with used car values increasing only 2% in Q1 – below the 3% increase from year before and 6% in 2011. Slight increases in off-lease units increasing supply and recently cheaper gasoline prices are keeping used values in check.
Click here to read the new and revised Blue Book Used-Car Market Report
Auction Supply Expected to Continue Improving and Fuel Prices Should Remain Below Levels Seen Last Year:
UV values likely declining 1% to 3% in Q2, and will continue modest drop rest of year.
Used Values Down Almost Across Board 1.7% from Year Ago During April:
Hybrids had most significant declines – values down more than 12% below last year’s levels.
Market for Used Full-Size Pickups Stable in April with Only Nominal Depreciation:
Small cars were seeing strong prices at auction, but appears won’t be the case much longer.