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NADA: Trade-In Values for Used Cars Expected to Rise in June

May 23, 2011

McLEAN, Va. – Trade-in values of small cars, such as the Ford Focus, Honda Civic and Toyota Corolla, are expeted to rise more than 30 percent year-over-year in June, says Jonathan Banks, senior analyst with the NADA Used Car Guide.

“Strong consumer demand for small used cars is driving up prices,” Banks said. “The NADA Guide increase in trade-in values for June should come as no surprise because it reflects a shortage of both new and used cars entering the market.”

Through the first six months of 2011, trade-in values for small cars are up 18 percent, according to the NADA Used Car Guide.

“Fewer new cars have been produced as a result of the crisis in Japan, which has shifted consumer demand to the used car market,” Banks added. “High gasoline prices are also increasing the demand for both new and used small cars.”

Comparing trade-in values from May to June 2011, prices for several popular-selling cars have increased by double-digit percentages, according to forecasts in the upcoming June edition of the NADA Used Car Guide. (See table.)

May vs. June 2011 Trade-In Values of Some Popular Small Cars

Model

Year

Vehicle

May

Value

June

Value

June

Increase

%

Increase

2009

Kia Rio

$6,400

$7,500

$1,100

17%

2007

Hyundai Accent Hatchback GS

$5,125

$6,000

$875

17%

2007

Toyota Prius

$13,400

$15,350

$1,950

15%

2009

Ford Focus S

$9,375

$10,700

$1,325

14%

2005

Subaru Impreza RS

$6,650

$7,575

$925

14%

2010

Honda Civic Coupe DX

$12,300

$14,075

$1,775

14%

2009

Chevy Cobalt

$7,450

$8,550

$1,100

15%

2009

Chrysler PT Cruiser

$9,225

$10,350

$1,125

12%

Source: NADA Used Car Guide (Car values are based on average condition.) 

“The June edition of the NADA Used Car Guide will reflect price increases to help dealers and consumers determine accurate trade-in appraisals and assist lenders with loan underwriting during this unique time in the auto industry,” Banks added.

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