According to the NADA September 2011 Guidelines, looking ahead through the end of September, used prices are expected to buck the accelerating downward trend normally expected at this time of year.
Here are some more important points from NADA Official Used Car Guide Update:
- August new vehicle sales reached 1.07 million units, which was 1% greater than July’s tally and an 8% improvement over last August.
- August’s SAAR of 12.1M was down slightly from July’s figure of 12.2, but was a 5% relative to last year.
- Aggressive incentive spending and moderating fuel prices saw truck sales outpace those of cars by a score of 53% to 47%.
- August’s month end days’ supply was roughly equal to July’s figure at just 49 days.
- AuctionNet wholesale prices experienced a mild softening in August as solid demand for pickups and SUVs was not enough to offset slackening demand for passenger cars.
- Relative to July, AuctionNet price movement ranged from -2.3% for passenger cars, to +1% for utility vehicles (CUVs and SUVs), with pickups (+.6%) and vans (-1.1%) positioned in between.
- Looking ahead through the end of September, we expect used prices to buck the accelerating downward trend normally expected at this time of year.
- At an average of -2.1%, Official Used Car Guide value reductions for compact and intermediate car segments are less severe than the 2.5% drop witnessed in August’s edition.
- Large pickup and SUV value changes for September average -.4% and -.7% respectively, while mid-size utility and van drops are slightly more aggressive at ~1.2%.
- Luxury segment value reductions average 1.5%, with luxury mid-size units dropping the most at around 2%.
If you don’t have time to read the full report, click here to watch the video update.