Executive Automotive Analyst
NADA Used Car Guide
Wholesale used vehicle prices saw strong results for the month of December – one of the strongest on record. Dropping gasoline prices and dealers anxious to secure inventory for the fast-approaching tax refund season drove demand and strengthened prices on vehicles up to eight-years old. Those prices were up 0.3% over November and 1.4% over December 2013. That turned around a December trend with prices falling 1.4% from 2003 to 2013 and not seeing a used vehicle price increase in more than 20 years.
Large SUVs and Big Luxury Cars Fell Worst with Both Down 1.2%:
Luxury Compact Utilities Best Performing Segment Going Up by 1.3%.
Large Pickup Depreciation Leanest of All Segments for 3rd Year in Row:
Used large pickup prices up eight times overall market increase of 3.5%.
Expect to See Similar Seasonal Patterns Play Out During 2015:
In addition, prices will be most influenced by low gas prices, rising supply, and increased new market pressure.