RVI: Small Vehicles Fuel March Wholesale Price Climb
The RVI Group spotted the same wholesale price climb other analysts noticed in March as the RVI Used Car Price Index moved higher both month-over-month and year-over-year.
Analysts determined the March index reading ascended to 1.454, up 2.3 percent from the previous month’s level of 1.422. The March reading also marked a 7.9-percent jump from the same month a year earlier when it was 1.348.
RVI pointed out “smaller vehicle segments showed strong gains,” as five categories posted month-over-month price increases of at least 3.5 percent. That cluster included:
—Compact: up 4.4 percent month-over-month, 9.4 percent year-over-year.
—Small Sedan: up 3.9 percent month-over-month, 7.9 percent year-over-year.
—Midsize SUV: up 3.8 percent month-over-month, 5.4 percent year-over-year.
—Sub Compact: up 3.6 percent month-over-month, 12.1 percent year-over-year.
—Small Pickup: up 3.5 percent month-over-month, 4.9 percent year-over-year.
Like sub compacts, RVI noticed four other vehicle segments with double-digit price climbs from March of last year. That group included luxury coupes (13.7 percent higher), luxury full-size sedans (12.4 percent higher), full-size pickups (11.4 percent higher) and full-size SUVs (13.3 percent higher).
Not all of RVI’s latest wholesale analysis had to do with price gains in March. Three segments softened in price month-over-month. Included in those declines were sports cars (down 1.3 percent), full-size SUVs (down 0.7 percent) and full-size pickups (down 0.7 percent).
Firm analysts also touched on new-vehicle prices, too.
“New-vehicle prices increased for the first time in eight months and remain up compared to last year’s prices,” RVI explained.
“New-vehicle prices (transaction prices), on a seasonally adjusted basis, are up 0.61 percent from January to February. New-vehicle prices have increased 3.0 percent since February 2011,” the firm concluded.