Dr. Ira Silver
National Auto Auction Association
Auction sales volume was flat in the first quarter of 2013, but has been increasing in recent months and is up 3.1% year-to-date. Auction prices have been down for the past three months and have decreased 3.2% so far in 2013. Retail used vehicle sales are seeing a stronger showing this year – up 7.7% in volume this year.
New Vehicle Sales Continue Robust Recovery:
Up 9.6% in May over previous year, and up 7.7% for year (seasonally adjusted).
Consumer Price Index on Used Vehicles Sees Decline:
Down 1.6% in May 2013 from previous year, down 0.5% year-to-date.
Overall US Economic Signs Not Great but Getting Better:
Real consumer spending, real GDP, and employment rate up a notch for year.