Executive Automotive Analyst
NADA Used Car Guide
Prices of used vehicles up to eight years in age fell by 3.2% in May – the biggest drop recorded since last October’s 3.6% decline. It was also the fourth worst showing for the month since 1995. The fast depreciation rate came from weak demand for compact and mid-size cars, and from having two full weekends of Memorial Day new vehicle marketing promotions.
Large Pickups Continued to Perform Strongest – Up 7.1% Over Previous Year:
Mid-size utility and large SUV segments also strong performers, up 4% and 2.7%, respectively.
Auction Volumes of Vehicles Up to 8 Years Old Fell for 2nd Consecutive Month:
Fell by 310,000 (or 6%), yet volume was up 7% higher than year ago and up 7% year-to-date.
June Forecast for Prices of Vehicles Up to Eight Years in Age 2% ‒ 2.5% Lower than in May:
Car depreciation expected to generally exceed that of trucks once again.