Used Vehicles Rise to Average Price of $13,648
The retail price of a used vehicle sold by franchised dealers was up $412 from 1999 to last year, averaging $13,648, according to NADA Data, the National Automobile Dealer Association's annual analysis of the
retail auto industry.
According to Paul Taylor, NADA chief economist and author of the report, several things fueled the average used-vehicle price increase. Record sales of new vehicles and the popularity of leasing over the past few years have created a large pool of late-model used vehicles. That, coupled with consumer preference for used vehicles with more optional equipment, has helped drive up the average retail price.
Trade-ins were still the biggest source of vehicles sold at retail by franchised dealers, totaling 60 percent in 2000 vs. 62 percent in 1999.
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