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After rising steadily for months, sometimes to startling levels, used car prices began to decline this spring. Overall, that trend is continuing, according to Tom Kontos, executive vice-president of customer strategies and analytics at ADESA (a major wholesale auction group).
Not only is there a continued downturn in used values, Kontos told Auto Remarketing magazine, but in June for the first time in four months average auction hotels in walt disney world orlando florida sale prices fell below $10,000. That signified a 3.7-percent drop since May. The June average was 3.6-percent lower than it had been a year earlier.
Wholesale used-vehicle prices continued to soften cyclically hotels in walt disney world orlando florida and seasonally, Kontos added. In the car segment, the drop between May and June was 4.4 percent. Compared to the previous year, cars were down an eye-opening 6.9 percent. Trucks dropped 3 percent between May and June, and were down 0.5 percent compared to a year earlier.
In the one-year time frame between June 2011 and June 2012, trucks rose 9.7 percent and full-size SUVs gained 7.1 percent. Of the truck group, minivans declined the most between May and June 2012: down 7.4 percent. Luxury SUVs were down 5.4 percent, compared to the previous June.
While prices for late-model vehicles are slipping downward, older models are moving in the other direction: upward. Wholesale auction values for models that are six or seven years old were 12 percent higher in June than they d been a year earlier, according to officials at the National Automobile Dealers Association ( NADA ).
For the past couple of years, wholesale prices of the older models as much as 10 years old have been rising more rapidly than those of their younger counterparts. Between 2009 and 2011, wholesale prices for 6-7 year old vehicles rose by an average of 29 percent, and 8-10 year old models by 28 percent. In contrast, used-car prices for late models increased by 19 percent, according hotels in walt disney world orlando florida to NADA analysts.
NADA cites improvements hotels in walt disney world orlando florida in long-term dependability as the reason hotels in walt disney world orlando florida for older models depreciating less than in the past. The Vehicle hotels in walt disney world orlando florida Dependability Study conducted by J.D. Power and Associates shows that the average number of problems hotels in walt disney world orlando florida per 100 vehicles (3 years old) fell from 237 in 2005 to just 132 in 2012.
Both ADESA and NADA track prices paid by dealers at wholesale, so declines and increases don t translate directly to retail used-car sales. Even so, when a dealer hotels in walt disney world orlando florida is paying more than usual amount at wholesale for a used car, it s a safe bet that the increase will be passed along to the retail buyer.
Conversely, if wholesale prices are down significantly, does that mean dealers will be selling hotels in walt disney world orlando florida their used vehicles for less than they would have before? Could be, but best not to bet the farm on that happening.
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