June Auction Prices Could Fall As Much As 2.5%
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McLEAN, Va. –
Wholesale prices began falling in May, and according to NADA’s latest Guidelines report, the trend isn’t expected to slow down this month.
NADA is predicting that prices will fall between a range of 2 percent to 2.5 percent this month.
As for the rest of the summer, used-vehicle depreciation is expected to drop to a range of 1 to 1.5 percent in July, before increasing to a 2-percent decline in August, according to NADA data.
Looking back at used price trends this year so far, the report shared February results fell in line with forecasts, but a “combination of pent-up demand and restrained supply resulting from severe winter weather drove prices well above expectations in March,” NADA's Jonathan Banks said in the report.
April and May, however, saw prices come down a bit and “realigned”with NADA’s expectations for the year.
“The results of the past eight weeks and the lack of any major looming threats suggest that prices will continue to track back toward an expected course moving forward,” Banks added..
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Editor’s note: For more from NADA’s latest Guidelines report, see Wednesday’s Auto Remarketing Today.
