NADA UCG: Car & Truck Segments Continue to Defy High Gas Rates

As gas prices continue to rise, the effects are still not being seen in the lanes, according to NADA Used Car Guide.
 
The organization noted that even though fuel rates are spiking, car — and especially truck — segements continue “to buck historical trends, and we’ve yet to see any significant shifts in used-vehicle prices due to the increased cost of fuel.”

Per Energy Information Administration data released this week, the average price of regular grade gasoline (all formulations) increased two cents from $3.72 to $3.74.

Interestingly, both the large SUV and compact utility segments are expected to see wholesale price increases over the course of the current week, 1.2 percent and 1.1 percent, respectively, NADA UCG reported.

And even with high rates at the pump, the large pickup segments are expected to remain relatively flat, with minor upticks to the tune of $25 apiece.

And delving deeper into the wholesale segments NADA UCG tracks, the midsize van segment is expected to see some of the biggest drops over the course of the current week, as prices are expected to fall around 1.5 percent, or $200.  Also, the luxury car segment is expected to drop 1.0 percent, or $225.

Furthermore, two other segments also expected to see minor declines over the course of the current week are the luxury utility and compact car segments, which should see drops under 0.3 percent apiece.

Last week, the luxury utility segment was expected to see the largest declines, as it was predicted to decline around 1.5 percent, or $375.

And for this week, the two-week average rate of depreciation for the luxury utility segment saw the biggest drop at 1.3 percent, followed closely by the luxury car segment at 1.2 percent.

Lastly, the midsize car and midsize utility are expected to remain relatively flat, rising $25 apiece.

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.