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SOURCE NADA Used Car Guide
Prices forecast to decline by 1% in July
MCLEAN, Va., July 15, 2014 /PRNewswire-USNewswire/ -- Strong demand for used automobiles in June helped to keep NADA's seasonally-adjusted used vehicle price index essentially unchanged at 126.4, according to the National Automobile Dealers Association (NADA) Used Car Guide's July edition of Guidelines, a monthly report on new and used vehicle sales trends and price movement.
Prices of used vehicles up to eight years in age fell by 2.4% compared to May, a figure in line with NADA's forecasted decline of 2-to-2.5%.
Lately, depreciation across segments has followed a familiar pattern, where declines for subcompact and mid-size cars overshadowed the overall market average, while losses for large pickups and SUVs were below the industry mean.
Subcompact and mid-size cars were the two biggest moving segments on the non-luxury side of the market; collectively the two fell by 3.1% in June. Over the past three months, prices for these two car segments have fallen by an average of 6.7%.
Overall, wholesale prices over the first half of the year were stronger than what was recorded for the period last year, and as a result, prices year-to-date are 2.8% higher than they were last year through June.
Prices for large pickups remain nearly 12% over last year's level, and the segment continues to lead others by a wide margin. Year-to-date growth for large SUVs, mid-size utilities and vans has also been significant, with prices up by 5–7%.
NADA's forecast for July and August has changed little from June's edition of Guidelines. Depreciation is expected to slow to a rate of approximately 1% in July with car depreciation again outpacing that of trucks, especially on luxury models. Losses for cars are expected to exceed 1%, while truck depreciation is forecasted to be under this figure. Large pickup and SUV prices are anticipated to be flat-to-up slightly.
Click here for the July edition of Guidelines.
About NADA Used Car Guide
Since 1933, NADA Used Car Guide has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the United States and worldwide. NADA's editorial team collects and analyzes over one million combined automotive and truck wholesale and retail transactions per month. Its guidebooks, auction data, analysis, and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. Visit nada.com/b2b to learn more.
NADA represents nearly 16,000 new-car and -truck dealerships with more than 32,000 domestic and international franchises. For more information, visit www.nada.org.
Contact: Jill Pritchard
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