Executive Automotive Analyst
NADA Used Car Guide
NADA Used Car Guide’s used vehicle price index came in at 123.1 in August, up 0.3% from both July and August of last year. The index has only dropped 0.5% this year. Used vehicle prices have stayed strong despite new vehicle incentives and ongoing rise in supply. The index fell 1.9% from July 2015, which was stronger than NADA’s forecast of 2.2% to 2.7% decline — and a real improvement over last year’s decline of nearly 3%.
Luxury Large Cars Down 16.2% in Prices Year-to-Date as Loss Leader:
Subcompact cars down 14.6% YTD, compared to 10.4% down for overall industry.
Auction Volumes Were at 291K Units in August and Down 8% from July:
Volumes of models up to 8 years old down 6% from last year’s 310K units.
NADA UCG Forecasts September Prices Falling 2.5% to 3% from August:
This year’s anticipated depreciation rate on par with 2.7% decline in past two years.