According to the latest edition of Guidelines, NADA Used Car Guide’s monthly market update new vehicle sales in October grew by 7% or 1.02M units relative to last year and the month’s SAAR of 13.2M was the second best result seen so far this year, coming in just shy of February’s 13.38M.
Highlights from this month’s edition include:
- October’s month-end new vehicle days’ supply increased by nine days over September to 58.
- Overall incentive spending in October declined by -7.6% on a month-over-month basis to reach an industry average of just over $2,450 per unit.
- Relative to September, AuctionNet wholesale prices for cars and vans fell by -3.7% and -3.3% respectively; utility prices fell by -2.2% and pickup prices dropped less than -1%.
- Nearly half of November’s Official Used Car Guide value adjustments for compact and mid-size cars exceeded -3%; mid-size van values were similarly reduced.
- Downward adjustments for large pickups, SUVs, and most luxury segments came in at -2.8% or less.
Click here for the latest edition of Guidelines, NADA Used Car Guide’s monthly market update.
ATD/NADA Official Commercial Truck Guide Update (Click here to access the Commercial Truck full report.)
- 3Q 2011 vs. 3Q 2010 comparisons show retail and wholesale selling prices up dramatically.
- Dealer sales volume was the highest of the year in September.
- 2nd-best month of the year for dealer sales volume.
- New and used truck industry suggests optimistic economic outlook.