NADA Report: Dealers Bid Aggressively to Replenish Used Inventory

Jonathan Banks
Senior Direc­tor
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.

Read the Guide­lines report from NADA Used Car Guide

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.

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