Executive Automotive Analyst
NADA Used Car Guide
The extreme winter weather in states east of the Mississippi last month softened used vehicle price growth. Wholesale prices of vehicles up to eight years in age grew by 0.8% over January levels last month, slightly below NADA’s forecasted range of 1% to 1.5%. February saw a 1.8 percentage point drop in NADA’s used vehicle price index, which fell from 125.3 in January to 123.5 last month. That was about one percentage point lower than the typical 1.7% increase average for that month from 1996 to 2014.
Subcompact Car Prices Improved 1% Even With Low Gas Prices and Rise in Late-Model Supply:
Mid-size vans rose by a similar 0.9% in spite of 20% increase in late-model volume.
Luxury Prices Went Usual Route for Month with Prices Declining Across Board:
Falling by 1%, luxury compact car prices gave up the most ground in February.
March Has Been Seeing 4% Price Increases through Pent-Up Demand:
April should see 0.5% to 1% drop – less than 2% rate forecasted in February.