Spinella: Retail Slid in March, KBB: Auctions Saw Strong Month April 4, 2014
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Retail Used Was Down in Volume and Price During March

Art Spinella
President
CNW Research

Retail used vehicles sales volume actually slid 6.3% last month as vehicle inventory was picked over in some parts of the country; and a ready source of the hot or most popular models were unavailable. Prices were down in March versus a year ago as both independent and franchised dealers were asking for 3.6% and 4.2% lower prices, respectively.

Check out the latest Retail Automotive Summary

Franchised and Independent Dealers Received 1.5% Lower Transaction Prices:
On positive side, both channels had positive percentages for share of asking price they received.

New Vehicle Sales Incentives Averaged $4,144 or 11.22% of MSRP:
Automakers picked up $3,398 of that cost with dealers the remaining $746.

Rollback of Sub-Prime Approvals Has Continued Over Past Six Months:
In March, sub-prime was off about 5.2% from previous month and more than 11% year-over-year.
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Strong Upward Momentum in Auction Values Met Expectations

Alec Gutierrez
Senior Analyst
Kelley Blue Book

Auction values rose sharply in March 2014, moving up 1.4% percent or $260. That moved up the average auction prices to $18,230 in March – higher than was previously seen in 2013 and 2012. Strong upward momentum was expected, as values typically follow a strong seasonal pattern; however some luxury segments haven’t seen price increases in the past couple of months.

View the Blue Book Market Report – March 2014

Compact Car Segment Outperformed Every Other Segment on YOY Basis:
Up 4.2% since January, with MY 2011-13 Toyota Corolla outperforming segment.

Low Fuel Prices Have Kept Alt-Fuel and Hybrid Vehicles Low Performing in Segment:
This includes Toyota Prius, Lexus CT, Ford C-MAX Hybrid, Chevrolet Volt, and Nissan Leaf.

Values for 1- to 3-Year-Old Full-Size Pickups Shifted and Increased at End of Q1:
Values up 1.16% month-to-month, and 1.31% year-over-year compared to March 2013.

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