NADA: Prices Should Improve in December, RVI: New Vehicle Transaction Prices Stable November 19, 2015

Used Vehicle Market Stable in October

Jonathan Banks
Executive Automotive Analyst
NADA Used Car Guide

Used vehicle deprecation was stable in October – at 2.8%, the decline was better than the 3.6% drop in that same month of 2013 and 2014; and better than September 2015 with its 3.5% decline. As is typical in October, compact cars, mid-size vans, large cars, and mid-size cars saw the softest prices. Truck depreciation was again lighter than cars, with large pickup depreciation tightening up to 2% from September’s relatively high rate of 2.8%.

Here’s the latest Guidelines report

Overall Depreciation for 2015 at 12.3% - Down from 2014’s YTD of 11%:
Luxury large cars had largest decline at 18%, followed by subcompact cars at 17%.

YTD Auction Volume at 3.52M Units – Up from 4% from Same Period Last Year:
Volume of vehicles up to eight years old rose 4% in October, reaching 319K units.

November Forecast for Vehicles Up to Eight Years Old Down 2% to 2.5% from October:
Used vehicle depreciation expected to improve in December to 1.5% to 2% decline.
Abdalah_Rene_RVI Group

Used Car Prices Down at Real Prices and Increased by Nominal Prices

Rene Abdalah
Vice President, Passenger Vehicle
RVI Group

Used car prices fell in October at Real prices, and increased at Nominal. The RVI Used Vehicle Price Index (Real) increased by 1.6% in October when compared to September. Compared to one year ago, the index fell by 0.9%. The Nominal index increased 1.7% in October when compared to September. Prices rose 1.6% from last year. The index measures the wholesale values of used cars (two-to-five year old vehicles) adjusted for mileage, mix, and seasonality.

Here’s the latest RVI Market Update report

Smaller Sedans and Compact Vehicles Had Greatest Residual Increase from September:
Full-size Pickups and Luxury vehicles saw little change from previous month.

New Vehicle Transaction Prices Fell by Only 0.2% from August to September:
Compared to September 2014, new vehicle prices had a 0.6% increase.

Gas Prices Finished at $2.39 Per Gallon in October, Down 3% from September:
When compared to October 2014, gasoline prices were down a whopping 27%.
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