Used-Vehicle Depreciation Remains Unchanged in April
The average price of a used vehicle for model years 2009–2013 remained unchanged in April, according to data from Black Book.
The average price of a used vehicle for model years 2009–2013 remained unchanged in April, according to data from Black Book.
Compact SUVs retained the most value in February thanks to cold weather, according to analysts at Black Book. The average price of 2009 to 2013 model year vehicles depreciated by 1.2% during the month.
Sales of certified pre-owned vehicles hit an all-time high of 2.3 million units sold in 2014, according to the latest Used Vehicle Market Report from Edmunds.com.
Used-vehicle sales motivated by online ads outpaced purchases motivated by print newspapers for the first time, CNW reports. The firm also noted that private party sales showed the biggest increase in December.
The city’s Consumer Affairs Department is warning dealers it will issue violations or revoke their licenses to operate if they do not notify consumers who purchased vehicle with unrepaired recall issues.
The industry sold 3.284 million used cars in December and 42 million units for the year. Driving those totals were increases in below-prime auto loan approvals, as finance sources continued to relax their guidelines.
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