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Used-Car Values to Increase 3 to 5 Percent, KBB Reports

January 17, 2012

IRVINE, Calif. — Kelley Blue Book said it anticipates used-car values to increase 3 to 5 percent in the first quarter of 2012, with further gains expected into the second quarter. 

Values have been mostly flat through the first two weeks of January, though increases in the non-luxury car and crossover segments are expected to continue to rise in the weeks and months ahead, according to the company. A lull in lease returns and an aging fleet on the road are expected to keep prices high through most of 2012, potentially surpassing record levels established in 2011.

"Consumers eyeing one of the many highly acclaimed redesigned 2011 model-year vehicles for their next used car should be prepared to pay a significant premium," said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book.  "For example, the 2011 Chevrolet Cruze and Kia Optima currently maintain a premium higher than 40 percent versus the 2010 model-year counterpart, significantly outperforming the Honda Accord and Toyota Corolla, which weren't redesigned for model-year 2011."

Higher prices are the reality of today's market and used vehicles will only become more expensive and difficult to come by as time goes on, according to KBB.

For more information, visit www.kbb.com.

Used-Car Values Show First Signs of Strength (MY09-11)

 

 

Trade-In Value

Change

Segment

1/6/2012

1/13/2012

$

%

Mid-Size Car

$12,096

$12,203

$107

0.9%

Hybrid Car

$14,335

$14,422

$86

0.6%

Full-Size Car

$15,756

$15,841

$85

0.5%

Compact Crossover

$14,863

$14,941

$78

0.5%

Compact Car

$10,235

$10,296

$61

0.6%

Source: Kelley Blue Book Automotive Insights


 

 

 

 

 

Trade-In Value

 

Note

Model

MY2011

MY2010

Premium

Redesigned for 2011

Chevrolet Cruze/Cobalt

$13,400

$9,100

47.3%

No Redesign

Toyota Corolla

$12,225

$10,575

15.6%

Redesigned for 2011

Kia Optima

$15,700

$10,350

51.7%

No Redesign

Honda Accord

$15,450

$14,113

9.5%

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