Used Car Prices Increase Again - Dodge Nitro Forum
Off-Topic Discussion If you have something to discuss that is not related to the Dodge Nitro, post it in here. Keep it work safe!

LinkBack Thread Tools Display Modes
post #1 of 2 (permalink) Old 04-16-2010, 01:25 PM Thread Starter
Super Moderator
rickaren's Avatar
Join Date: Nov 2006
Location: Indiana
Posts: 22,856
Used Car Prices Increase Again

Wholesale Gains Widespread

April 16, 2010

CARMEL, Ind. — With retail demand healthy and supply being limited, dealers were once again aggressive when it came to bidding at the auction during March, and this helped push continued growth in wholesale prices, according to ADESA's Tom Kontos.

Specifically, the average wholesale price during March was $10,540, which marked a 6.8-percent year-over-year gain and a 4-percent sequential rise, ADESA shared.

"Wholesale used-vehicle prices maintained their growth pattern in March, as dealers continue to bid aggressively for available units needed to meet solid retail demand in the midst of tight supplies," Kontos explained.

The average wholesale car price was $9,434, a 5.7-percent upswing from March 2009, and auction prices for trucks averaged $11,867, a 9.2-percent year-over-year rise.

The price gains were quite consistent throughout various vehicle types. In fact, of the 13 car and truck segments included in ADESA's data, all but one — full-size cars, which were down 9 percent — saw their average wholesale prices increase from March 2009.

Full-size vans showed the largest increase from a year ago (26.1 percent), while full-size SUVs (up 12.3 percent) and full-size pickups (up 9.3 percent) had substantial gains, as well.

Leading the price gains among the car segments was the luxury car category, which climbed 7.6 percent, followed by sporty cars (up 6.9 percent) and midsize cars (up 4.6 percent).

"The rising tide has been lifting virtually all ships," Kontos pointed out. "Most model class segments have been moving in tandem with the market regardless of size or configuration."

Breaking it down by seller types, all groups showed stronger pricing during March.

Prices in manufacturer sales were up 4.2 percent from February and 13.5 percent from March 2009. There was a 5.4-percent month-over-month rise in fleet/lease consignment prices, which climbed 11.9 percent year-over-year.

Dealer consignment prices jumped 14.2 percent from the prior-year period and 7.7 percent from February.

Continuing on, auction inventory level was approximately 31 days at the end of March, according to ADESA Analytical Services. Comparatively, auction inventory level was at 44 days a year ago.

This points to "tight supply and high auction throughput."

Looking at the retail side of the used market, there was a 10.5-percent increase in used-vehicle sales, Kontos noted, citing CNW Research.

Franchised dealers saw a 3.5-percent rise in used sales, while independents enjoyed an 18.7-percent gain.

The new-vehicle market was also more vibrant in March, Kontos shared.

"Stronger new-vehicle sales recorded in March — both retail sales to consumers and fleet sales to rental companies and corporations — bode well for near-term and longer-term used-vehicle supply in the form of trade-ins and off-rental/fleet units," he explained. "In the meantime, institutional and dealer consignors can capitalize on strong selling prices in-lane and online at auction."

Finally, sharing Bureau of Labor Statistics information, Kontos pointed out that there was a 14.1-percent year-over-year uptick in the consumer price index for used vehicles in February, which was the latest data available.

LINK: AutoRemarketing


Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
rickaren is offline  
Sponsored Links
post #2 of 2 (permalink) Old 04-30-2010, 03:21 AM
Junior Member
Join Date: Apr 2010
Posts: 5
Is it true that the used car price has gone up.Then it would be not good for them who were planning to buy a used car.As their budget have to be increased or else they have to wait for some days until the price comes down.

Edit by Rickaren
mathew1985 is offline  
Sponsored Links

  Dodge Nitro Forum > Off-Topic Area > Off-Topic Discussion

Quick Reply

Register Now

In order to be able to post messages on the Dodge Nitro Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Similar Threads
Thread Thread Starter Forum Replies Last Post
Used Car Prices May Drop in 2010 rickaren Chrysler/Dodge/Jeep News 0 01-05-2010 10:27 AM
Higher gas prices will boost small car sales rickaren Chrysler/Dodge/Jeep News 0 12-09-2009 03:24 PM
Used Car Prices Dropping rickaren Chrysler/Dodge/Jeep News 0 11-11-2009 08:34 AM
Ford to increase production rickaren Chrysler/Dodge/Jeep News 0 06-01-2009 05:39 PM
Economy, gas prices drive up new-car incentives rickaren Chrysler/Dodge/Jeep News 0 03-22-2008 06:13 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome