MCLEAN, Va., May 14, 2015 /PRNewswire/ -- In their latest Guidelines report published by NADA Used Car Guide, analysts observed April used vehicle values fell by only 1.4 percent, while new vehicle sales improved 5 percent during the month. With such a nominal change in the used market, NADA's Used Vehicle Price Index only dipped by two tenths of a point to 124.3 in April.
According to Jonathan Banks, executive analyst at NADA Used Car Guide, "The warmer weather is finally here, and consumers are back on dealer new vehicle lots. With an abundance of incentives, competitive finance, and lease offers, it isn't surprising to see new vehicles sell so well."
The manufacturer incentive spending Banks mentions is one of the reasons for brisk new vehicle sales. Average spending per vehicle by automakers was up 3.2 percent ($2,671) versus April of last year.
If the growth in new vehicle sales continues, the seasonally adjusted annual rate (SAAR) will continue to rise past the 16.46 million it hit during April.
Banks said, "We expect used vehicles that are 8 years or younger to depreciate by about 2.7 percent during May."
Download the Free Report
The full 2015 May Guidelines report from NADA Used Car Guide can be downloaded for free on the NADA Used Car Guide website at www.nada.com/b2b.
About the 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 United States and worldwide. NADA's 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 represents nearly 17,000 new car and truck dealerships with more than 32,000 domestic and international franchises. For more information, visit www.nada.org.
Sr. Manager, Public Relations
NADA Used Car Guide
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SOURCE NADA Used Car Guide