Senior Market Analyst of Automotive Insights
Kelley Blue Book
New and used pricing gap tightening; Used subcompact and compact cars only offer consumers an average savings between 5% to 7%, while used hybrid cars and mid-size crossovers are within 3% to 4% of an equivalent new vehicle.
How New Vehicles Cannibalizing Used Vehicles in Sales:
Incentives and lower finance APRs on new, used-car values remain near all-time peak.
KBB Seeing Traffic Increase in Car-Shopping:
Has been 5 percentage point shift in new car-shopper activity since January.
New Vehicle Sales and Used Vehicle Registrations Seeing Similar Pattern:
New up 9% in July, Used down 4% to 5% year-over-year from March through May.