MCLEAN, Va., Dec. 15, 2016 /PRNewswire/ -- The latest monthly Guidelines report from NADA Used Car Guide finds that wholesale prices of vehicles up to eight years in age fell by 3.3 percent on a monthly basis in November. In addition to taking a bigger drop than expected for the month, the decline is also more than double the 1.4 percent average recorded during November the past three years. The month-end result was the market's third worst performance in 2016. As a result, NADA Used Car Guide's seasonally adjusted used vehicle price index fell by 0.3 percent to 116.3.
Major analysis takeaways from the NADA Used Car Guide Guidelines report include:
- Wholesale Depreciation Fell Slightly in November
- Prices declined by an average of 3.3%
- Used Vehicle Price Index Declined
- Index slipped by 0.3% to 116.3
- New Vehicle Deliveries Increased
- Sales grew by 3.7%, new vehicle SAAR reached 17.75M
- Incentive Spending Jumped by Double-Digits
- Average spending per unit increased 21.2%
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.
NADA Used Car Guide®, a division of J.D. Power
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SOURCE NADA Used Car Guide