According to the NADA Official Used Car Guide Update for January 2012, total light vehicle sales in December increased by 9% on an annual basis to reach 1.24M units. NADA UCG said, as a result, full year sales landed at 12.7M units which translated to a 10.2% increase over 2010’s tally of 11.6M. In addition, the month’s SAAR of 13.5M units marked the fourth month in a row that the thirteen million unit threshold was breached.
Highlights from this month’s edition include:
NADA Official Used Car Guide Update
• Total light vehicle sales in December increased by 9% on an annual basis to reach 1.24M units. As a result, full year sales landed at 12.7M units which translated to a 10.2% increase over 2010’s tally of 11.6M. In addition, the month’s SAAR of 13.5M units marked the fourth month in a row that the thirteen million unit threshold was breached.
• December’s sales activity helped to push the average days’ supply for the year down to 55 days, which is the lowest level seen since at least 2003.
• AuctionNet wholesale prices closed out the year on a high note in December; car prices finished the month 6% higher than they were the previous year, van prices notched a 5% annual improvement, while utilities and pickups closed out the year with increases of 3% and 2% respectively.
• Relative to December, half of all NADA segments had average value adjustments ranging from -1% to .1%, while reductions for the other half did not exceed -2.3%. Generally speaking, trucks and utility values changed very little one way or the other, while car values – primarily higher dollar models – experienced the more aggressive downward adjustments.
ATD/NADA Official Commercial Truck Guide Update (Click here to access the Commercial Truck full report)
• Retail sleeper pricing has been flat since September, although wholesale pricing is showing strength.
• Sales volume at the dealer level was down considerably in November.
• 4th Quarter lull is likely seasonal; pricing forecast is steady to upwards in 2012.
Click here to read the full NADA Official Used Car Guide Update for January 2012.