Used Vehicle Prices Rebounded in December
Wholesale used vehicle prices increased a bit month over month in December 2019, according to Cox Automotive.
Three-year-old vehicle values in aggregate were up 0.1% for the month.
As a result of the stabilization at year-end, prices in aggregate ended 2019 at a historically more normal level of 90% relative to the value at the beginning of the year but well below the performance experienced in either of the last two years.
On a year-over-year basis, luxury, SUV/CUVs and midsize cars saw seasonally adjusted wholesale price increased in December.
Midsize cars outperformed the overall market last month; all other major segments underperformed. Pickups, compact cars and vans finished below year-ago levels.
A year-end 2019 bump in used car sales fueled these price increases, and could impact vehicle buyers in two ways early in 2020: fewer great deals on used cars and better trade-in prices for new vehicle sales.
Tags: Used Car Deal, Used Vehicle Prices