With today being Halloween, Jonathan Banks warned about being tricked by the data being generated by the industry recently.

The executive automotive analyst from NADA Used Car Guide explained his points during a recent online video post after the firm released its latest issue of Guidelines.

“When taken at face value, that statistics for both the new- and used-vehicle markets indicate a pullback in demand compared to prior months. However, this month’s statistics are misleading,” Banks said.

“The automotive industry is continuing to maintain a steady pace even with the uncertainty revolving around the contentious debate of the budget and debt ceiling,” he continued.

“On the used side, prices showed a dramatic decline compared to what we have been accustomed to. Prices for used units up to 8 model years in age fell by 2.6 percent in September, ending a three-month period in which depreciation averaged an uncommonly low rate 1.2 percent,” Banks went on to say.

Banks’ complete update can be viewed in the video that’s posted below.

Banks is planning to share more analysis throughout Used Car Week, which is coming on Nov. 11 through Nov. 15 at the Manchester Grand Hyatt in San Diego.

The NADA UGC expert is one of the afternoon presenters during the inaugural SubPrime Forum, which is being orchestrated in conjunction with the NAF Association and sponsored by Dealertrack Technologies, Fiserv and Black Book Lender Solutions.

Banks’ SubPrime Forum presentation is titled, “Used Vehicle Price Trends and Understanding Differences When Considering Vehicle Age.”

Later during Used Car Week, Banks also will be part of panel discussion with other industry experts during the National Remarketing Conference sponsored by SmartAuction.

It’s not too late to register to attend Used Car Week. Conference agendas and more details can be found at www.usedcarweek.biz.