Senior Analyst, Vehicle Valuation
Kelley Blue Book
Average auction values were up by a total of $235 in the first two months of this year compared to a gain of $72 in January and February 2014. The year started 2.3% higher than the previous year and continued up to 3.2% higher than one year earlier. The used vehicle segments that have been performing well this year have been the sports car segment (up 3.7%), compact (up 2.1 %), mid-size (up 2.8%) and full-size (up 2.6%) crossover segments; and the full-size car segment (up 2.3%).
Average Price of Gasoline Rose 22 Cents per Gallon to $2.21 Nationally:
Crossovers did well as consumers want smaller, more fuel-efficient utility vehicles.
Average Price of Gasoline Still Down $1.12 or 34% from Year Ago:
Driving demand away from electric and hybrid segments, and truck and crossover segments have seen momentum.
Average Retention for Mid-Size Sedans Remaining Lower than Previous Years:
One cause can be increase in lease returns in this segment in the auction lanes.