RVI Saw Strong Close to 2012 and Expects Used Car Price Decline in 2013

Abdalah_Rene_RVI Group

Rene Abdalah
Vice President, Passenger Vehicle
RVI Group

Wholesale used vehicle values were strong by the end of 2012, due mainly to Hurricane Sandy and increased demand. Seasonally adjusted on a two-to-five year old vehicle basis, prices rose by 1.8% month-over-month in December, according to the RVI Market Update.

Click here to see RVI Used Car Price Index for December 2012

Used Vehicle Prices Saw Strong Increases for the Month Compared to Year Before:
On a year-over-year basis, prices were up 5.7% in December 2012.

Vehicle Segments with the Strongest Price Increases Year over Year:
Luxury coupes, Luxury full-size sedans, and full-size sedans.

Used Car Price Upward Trend Expected to Change in 2013 with Price Decline:
Supply expected to increase throughout year, though supply will remain low historically.