NADA Used Car Guide
Wholesale prices shot up 3.7% in March, far behind February’s 2.2% increase and NADA Used Car Guide’s 1% forecast for the month. It was the highest rate in three years – caused by dealers having blocked purchases because of harsh weather in January and February, and then bidding aggressively in March to catch up on inventory. Dealers wanted to be ready for the traditional spring selling season’s strong demand. Late model volume continued to fall, adding further buoyancy to the prices.
NADA Used Vehicle Price Index Went Up Over 2 Points to 127.0:
That’s a new all-time high moving far beyond previous mark of 125.6 in November 2013.
Auction Transactions Fell Close to 5% for Compact and Mid-size Cars, Nearly 10% for Mid-size Vans:
Upward price movement at segment level was greatest for all three that also had biggest declines in auction volume.
Large Pickups One of Few Mainstream Segments to Have Sales Increase in March:
But that didn’t keep prices from growing by a 2.7% increase.