MCLEAN, Va., Nov. 11, 2015 /PRNewswire-USNewswire/ -- In their most recent November Guidelines report, NADA Used Car Guide analysts found October wholesale prices of vehicles up to eight years in age improved modestly compared with this past September. Wholesale prices fell by 2.8 percent during October, down from 3.5 percent in September.
The report finds several upward trends across the automotive industry, including:
- NADA Used Car Guide's used vehicle price index moved up 0.4 percent to 122.5.
- Incentive spending increased 14 percent compared with October of 2014, averaging $3,108.
- New vehicle sales jumped 14 percent, which allowed the SAAR to top 18M for the second consecutive month.
The report also includes a used vehicle pricing analysis of how Volkswagen-branded models have sold over the previous month. A detailed chart, which breaks down pricing pre- and post- emissions violation, is provided. Among the findings in the special section, analysts report auction volume of affected VW diesel models is currently running 21 percent lower on average than before the Environmental Protections Agency's notice of violation to the manufacturer.
Jonathan Banks, executive analyst at NADA Used Car Guide said, "Regarding Volkswagen's Jetta and Passat, what occurred last month in the wholesale auction lanes is very interesting. Our data analysis shows that while the pricing of 2011 – 2014 diesel models has dropped from a range of 9 – 14 percent, their gas-powered models tend to be weathering the storm a bit better with Passat price declines ranging from 2 – 6 percent, and Jetta prices ranges dropping 5 – 10 percent."
About NADA Used Car Guide
Since 1933, NADA Used Car Guide® has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the U.S. and worldwide. Its editorial team collects and analyzes over 1 million combined automotive and truck wholesale and retail transactions per month. Its guidebooks, auction data, analysis and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. NADA Used Car Guide® and its logo are registered trademarks of National Automobile Dealers Association, used under license by J.D. Power and Associates.
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SOURCE NADA Used Car Guide