Used Car Prices Down at Real Prices and Increased by Nominal Prices

Rene Abdalah
Vice Pres­i­dent, Pas­sen­ger Vehi­cle
RVI Group

Used car prices fell in Octo­ber at Real prices, and increased at Nom­i­nal. The RVI Used Vehi­cle Price Index (Real) increased by 1.6% in Octo­ber when com­pared to Sep­tem­ber. Com­pared to one year ago, the index fell by 0.9%. The Nom­i­nal index increased 1.7% in Octo­ber when com­pared to Sep­tem­ber. Prices rose 1.6% from last year. The index mea­sures the whole­sale val­ues of used cars (two-to-five year old vehi­cles) adjust­ed for mileage, mix, and sea­son­al­i­ty.

Small­er Sedans and Com­pact Vehi­cles Had Great­est Resid­ual Increase from Sep­tem­ber:
Full-size Pick­ups and Lux­u­ry vehi­cles saw lit­tle change from pre­vi­ous month.

New Vehi­cle Trans­ac­tion Prices Fell by Only 0.2% from August to Sep­tem­ber:
Com­pared to Sep­tem­ber 2014, new vehi­cle prices had a 0.6% increase.

Gas Prices Fin­ished at $2.39 Per Gal­lon in Octo­ber, Down 3% from Sep­tem­ber:
When com­pared to Octo­ber 2014, gaso­line prices were down a whop­ping 27%.



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