According to the latest edition of Guidelines, NADA Used Car Guide’s monthly market update, August used truck prices higher than expected.
Highlights from this month’s edition include:
- September new vehicle sales reached 1.05 million units, which was a 10% improvement over last September.
- September’s SAAR of 13.04M was a significant improvement over August’s figure of 12.09, and marks the first time that we’ve passed the 13M unit threshold since April.
- Seasonality, emerging rental fleet volume, and a pullback in demand for fuel efficient cars worked together to pull AuctionNet wholesale prices down virtually across the board for September.
- On a mileage and mix adjusted basis, cars gave back a share of the year’s earlier gains as prices fell by 3.9%, while van prices dropped an even more dramatic 5.2%.
- Pickups and utilities fared considerably better, with prices moving downward by a max of just 1.5%.
- Official Used Car Guide value movement for October reflects a continuation of September’s market direction and was heavily influenced by the ongoing contraction of both supply and fuel prices.
- Looking across segments, subcompact, compact, and mid-size car values were hardest hit at a collective average of around -3%, while pickup and utility values moved a much more subtle -.5%.
ATD/NADA Official Commercial Truck Guide Update (Click here to access the Commercial Truck full report.) (To view the video update, click here)
- August used truck prices higher than expected.
- Used sleeper market near a 3-year high.
- 2nd-best month of the year for dealer sales volume.
- New and used truck industry suggests optimistic economic outlook.