Chief Economist, Industry Analysis
National Automobile Dealers Association
National Automobile Dealers Association released the annual report NADA Data on dealership sales and financial trends. The average retail price of $18,846 for a used light vehicle sold at a franchised dealership in 2014 was up 4.1% from 2013 and 14% from 2010. Even though more off-lease vehicles coming back to the wholesale market this year, pent-up demand from new- and used-vehicle buyers, along with low interest rates, are likely to keep used vehicle values strong this year.
NADA Expects Used Vehicle Values to Increase Again During 2015:
That will probably not be as high in value as was seen 2014.
Trade-ins on New Vehicle Sales Made Up 42% of Used Supply in 2014:
Auction purchase was 2nd at 26%, and trade-ins on used vehicles was at 24%.
NADA Expects a Robust 2015 with 17.3M in Light and Heavy Duty Sales:
Rising interest rates and continued lackluster wage growth will be present.