Analytics and Pricing Department
Used Market Quarterly Report – Q4 2013
Calendar year 2013 saw a 5% drop in used vehicle sales volume, and a 9.3% decrease in Q4 compared to Q4 2012. Prices were up 0.7% from Q3 2013 and down 0.5% year-over-year. While declining, used prices remain elevated over past norms. As for 2014, Edmunds expects trade-ins to increase resulting in better supply at lower prices for consumers looking for used car.
2013 Showed 8% Increase in Franchised Used Sales Over 2012:
Q4 saw 2.5M units sold – down 11.7% from Q3 and up 8.7% YOY.
OEMs Gearing Up for Influx of Off-Lease by Bolstering CPO Programs:
Programs being enhanced with better coverage and dealer engagement increasing.
Nissan Leaf and Prius Plug-In Saw Significant Price Reductions:
Decreased their used vehicle values, and may force competitors to follow.