After having a big rise, wholesale price ranges of used cars are finally beginning to fall a little. It ought to moderate, or at least slow, rocketing retail used-car prices — what you are going to pay — which are up a lot more than 30% this year.
At the wholesale level, used car prices fell another $300 in June and therefore are right now more than $600 below their April peak for the year up to now, states Tom Kontos of Adesa’s consulting firm. Adesa itself is among the many of the country’s biggest wholesale sellers of used cars.
Despite the fact that wholesale used-car prices tapered off, do not expect the party to last. “Tight used vehicle supplies plus strong retail demand should keep used vehicle prices from dropping dramatically,” Kontos writes in a note to the industry.
And even while used-car prices are beginning to slack off, retail used vehicle sales in July still were increased, up 17.8% year-over-year at new-car dealers’ used-car lots and up 10.7% for independent dealers.
On a month-over-month basis, used vehicle sales have been up for both groups at the same time. “Certified” used vehicle sales in July were up 1.4% versus June, registering their strongest showing of the year for these automaker-sponsored programs, according to Autodata.
Seems like the actual “mild recovery” in which economic experts continue to say is happening is at least still taking place for the auto industry.
Marco Abanico is an expert in online marketing and enjoys teaching and coaching others on how to make money on the internet. He enjoys sharing his secrets to success in online business. If you would like more information about how he makes $500 per day on the internet, you can reach him at 513-442-0239 or check out the exact internet marketing system he uses to achieve success online.