Incentive growth was at its lowest point in March since last September, but the NADA Used Car Guide noted that the automakers that decreased spending were the ones that scored sales increases for the month.
The NADA Used Car Guide expects credit conditions to become ‘slightly less favorable’ by the end of the year as finance sources take on more risk.
Thanks to improving weather during the second half of February, used-vehicle prices edge up 2.2%, the NADA Used Car Guide reported this week. The firm expects prices to continue rising in March.
Greater supply of used cars to end five years of price growth, but officials with NADA Used Car Guide said prices will remain at historically high levels.
New-vehicle cash incentives reduce the price of used vehicles significantly more than finance and lease incentives, the NADA finds.
The same factors behind the surge in new-vehicle sales are having the same effect in the used-vehicle market, the NADA Used Car Guide reports.
Depreciation for used vehicles up to eight years old slowed to 1.1 percent in June, substantially less than what has been recorded for the month historically.
Rising supply and steady demand is keeping used-vehicle price fluctuations under control, Edmunds.com finds.
In the first four months of 2013, auction prices for full-size pickup trucks rose nearly 7 percent.
Used-vehicle prices should have dropped by 2.1 percent in November. Instead, Hurricane Sandy struck and slowed depreciation by 1 percent.
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