Kbb.com: Used Luxury Vehicles See Spike in Shopper Interest

With the jury still out on whether used luxury prices will see a spike in the near future, spring wrapped up with consumers seemingly shifting their interest to this segment.
Kbb.com reported that for the second consecutive month, site traffic in the luxury segment increased.
Kbb.com’s new M.I. Quick stats, which provide a snapshot of new- and used-car shopper perceptions and behaviors on the site, found that leading the changes this past May was the luxury crossover segment, which grew 18.3 percent month-over-month in share.
And which vehicles were catching consumers’ eyes?
Kbb.com editors noted the increase in shopper interest for this segment was driven by vehicles among the top 10 performing models on Kbb.com: 2009 BMW X5, 2010 Acura MDX and 2010 Lexus RX.
But the crossovers weren’t the only segment seeing a surge in traffic.
The luxury car segment experienced a lift in traffic with a 12.9-percent month-over-month increase.
“The 2009 and 2010 model-year BMW 5 Series primarily drove interest in the luxury car segment,” officials added.
And as consumer interest continues to rise for the luxury segments, what will prices look like for the rest of the year?
Auto Remarketing reported just last week there are a few different ideas out there regarding how this will pan out.
On one side, NADA Used Car Guide is predicting the prices of luxury used vehicles will likely climb nearly 2 percent this year, according to NADA UCG senior analyst Jonathan Banks.
The projection for this 1.9-percent price uptick is spurred by the significant swoon in supply for these vehicles, as NADA forecasts a 13-percent drop for 2012 in the number of luxury used units up to five years in age.
Black Book managing editor Ricky Beggs offered a different perspective.
He believes luxury used-vehicle prices will actually decrease significantly.
In fact, Black Book emphasized data showing used prices for these luxury units have dropped 2 percent in the last three months and 13.5 percent year-over-year. Beggs told Auto Remarketing he expects the full-year decline to be similar to that year-over-year figure.
For more insight into where luxury used prices are headed, see the following Auto Remarketing stories:
NADA Used Car Guide Predicts Used Luxury Price Hike
Beggs Offers Different Take on Used Luxury Price Movement
Moving along, Kbb.com wrapped up its Hot Used-Car Report overview with another used-car trend for this past May.
As summer began, the company saw interest shifting away from the 2006 model-year vehicles.
“The value proposition for a 6-year-old vehicle against 2007 model-year vehicles or newer no longer captures consumer attention,” the company explained.
And with the average vehicle age on the road hitting 11 years, dealers may be seeing more consumer trade-ins in the coming months.
The new M.I. Quick Stats report features is a new offering from Kbb.com, which features “select Quick Poll results (Driver Input from kbb.com shoppers), monthly Hot Used-Car Report information (the top and bottom movers in terms of used-car traffic on kbb.com) and relevant Market Watch Highlights (examines the drivers of month-over-month and year-over-year changes in shopper activity and share of market interest by brand, including trending for some major segments),” the company explained.