Executive Automotive Analyst
NADA Used Car Guide
NADA Used Car Guide sees price drops more in line with two factors — market correction from inordinate run-up in spring prices combined with pressure from new vehicle market — than do other analysts who see off-lease and off-rental volume being principal cause of downturn. For second month in a row, prices were down more severely in August than what’s been recorded for the month; wholesale prices of vehicles up to eight years old were down 3.1% from July. That was worst showing for August since 2002.
New Vehicle Sales Rose by 5% and SAAR Jumped to 17.5M Units:
Incentive spending climbed for 5th straight month to nearly $2,975 per unit.
Subcompact and Compact Cars Again Did Poorly — Falling by 3.6% and 3.3%:
Mid-size cars also down from previous month at 3.4% — which tied August 2011 as segment’s worst showing in past 5 years.
Large Luxury Cars Dropped 3.7%, Biggest Decline Among All Segments:
Prices of compact and mid-size luxury cars fell within a range of 2.6% to 3%.