Vice President, Passenger Vehicle
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.
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.