According to the latest edition of Guidelines, NADA Used Car Guide’s monthly market update, August used truck prices higher than expected.
Click here to access the full report.
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.
