Jonathan Banks
Senior Director,
NADA Used Car Guide:
After declining 1.5% in November, depreciation rates declined for the second month in a row during December; wholesale prices for units up to eight years old fell by 1% from November. For the entire year of 2013, the average price of units up to eight years old grew by 0.4%. Used vehicle prices climbed for the fifth straight year.
NADA Used Car Guide digs into 2013 results and 2014 forecast
Large Pickup Prices Increased by 9.6% in 2013 – Most of Any Segment:
Supported by consumer and commercial demand, lower gas prices, and comparatively tight supply.
Luxury Cars Saw Big Decline at 2.1%, but Less than Large SUVs at 2.6% Drop:
Luxury price decline isn’t uncommon this time of year, and ongoing increase in off-lease supply played a part.
NADA Expects Used Prices in January Will Be Flat to Down:
Down just slightly before rising by 2.5% to 3% through March.
