Kelley Blue Book tracked wholesale used vehicle trends in October in its latest edition of Blue Book Market Report. Here’s some of the significant market trends reported……
- While auction values dropped an average of 1.7%, or nearly $285, during the month, values are still performing well on a year-over-over year basis.
- Auction value is still $220 more than at this time last year.
- Looking forward to the fourth quarter, auction values should decline at a slightly faster pace than in the previous two quarters. This will come from the influx of off-lease vehicles into auction lanes.
- While values for the 2012 Nissan Leaf had taken a big hit earlier this year, values rebounded $2,000 or nearly 12% through October. Increased demand overseas for electric vehicles also has sparked more interest from exporters in the auction lanes.
- Auction values were down 3.6% month-over-month in the compact SUV/crossover segment as volume increased in auction lanes.
- Declines in value for full-size cars slowed down in October.
- Mid-size cars continues to outperform when comparing year-over- year auction values. The segment is 3.9% over where it was a year ago.