Average used car price hits new record high of $18800 - Autoblog (blog)
Edmunds ' Q2 2015 Used Vehicle Market Report finds that the average price of a used car has gone up 7. 6 percent compared to 2014, to $18,800. That would be a surprise to anyone who didn't read last year's Used Vehicle Market Report, when the... The factors driving the yearly increases remain the same: growing new car sales and higher transaction prices for new cars creating fortified off-lease and certified pre-owned inventory. At the same time, the average price of a new car in Q2 this year was $33,340 according to Edmunds , $33,560 according to Kelley Blue Book. The price creep is being driven by trucks - like the coming Ford F-150 Limited - which enjoy the largest demand new and used and whose transaction price gains outstripped the average by 1. 1 percent. Unlike last year, however, when newer used vehicles also saw an uptick in values, this year the prices for vehicles one- or two-years old have dropped. Luxury values are likewise down, declining seven percent in the past year to an average $52,438. The surge is coming from cars at least eight-years old and older, with values up 11 percent compared to last year, which Edmunds attributed in part to... Source: www.autoblog.com
