NADA UCG: Wholesale Prices to Remain Stable This Week; Slight Changes Predicted
As 2013 gets underway, demand remains strong, and prices in the lanes see little change, according to NADA Used Car Guide.
Over the course of the current week, NADA UCG noted it expects used prices to “deviate little from the prior week’s relatively flat trend as AuctionNet wholesale prices remain essentially unchanged.”
And officials also noted that demand across all segments remains strong.
Specifically, NADA UCG is predicting used prices for the current week to remain more or less unchanged, with price movement expected to range between zero to 0.8 percent.
Six NADA segments are expected to see positive price movement over the course of the current week
Overall, the industry average is expected to increase by a slight 0.3 percent, or $50.
NADA UCG also explained the recent holidays are affecting prices in the lanes.
“When comparing the four- and two- week average prices it's important to remember the recent low volume holiday sales weeks that are included in these figures, bringing down the actual average a bit,” NADA UCG officials said.
“As we expect over the course of the current week and moving forward, NADA expects to see a gradual uptick in average wholesale prices during the first quarter of this year as we enter a normal selling season for all segments,” they continued.
Four- and two-week AuctionNet wholesale average prices are created by collecting all AuctionNet records for vehicles up to five years of age for a specified period of time. Prices are then adjusted for changes in mileage and mix.
Current week prices are based on NADA's proprietary used-vehicle value model which includes assumptions for new-vehicle prices, used-vehicle supply, gasoline prices, and other economic factors.