McLEAN, Va. -

Looking back at 2012, used-vehicle prices continued their upward climb for the fourth consecutive year, according to NADA Used Car Guide’s latest Guidelines report.

And elements outside of the market contributed to late-year price hikes, as well, as the effects of Hutrricane Sandy pushed the average price of vehicles up to eight years old up by 0.1 percent in December compared to November.

This marked an improvement from the 2 to 2.5 percent rate of decline typically expected in the month of December, officials noted.

Moreover, in December, used-vehicle prices increased 1.2 percent year-over-year.

Finishing up 2012 with a bang, this past year marked four consecutive years of used-price growth and placed prices 32 percent higher on average than 2008, during the height of the recession.

Commenting on the results, Jonathan Banks, executive automotive analyst for the NADA Used Car Guide, said, “Higher trade-in equity on used vehicles will help encourage the release of pent up demand for a growing number of consumers who need to replace an aging vehicle or who are enticed by the large number of exciting new vehicles arriving at dealer showrooms this year.”

Meanwhile, from January 2011 through December 2012, the NADA Used Car Guide’s average trade-in values for 2005–2011 model year vehicles depreciated by a “historically mild” rate of 14.1 percent.

“This means that on average, a car or truck with a trade-in value of $15,000 in January’s edition of the Used Car Guide lost $2,114 of its value by the end of the year or less than $200 per month,” officials further explained.

And a few models in particular, held their value better than others.

Topping this list was the large pickup segment, where “higher new-vehicle prices, fuel-efficiency improvements and modest gains in housing and construction” increased used demand and held depreciation to 8 percent over the course of the year, officials noted.

“This low rate of depreciation means that consumers should have increased the equity stake in their used pickup — and for used vehicles in general — because they paid off much more in principle over the course of the year than what their truck lost in value,” Banks added.

For more insight into NADA UCG’s January Guidelines report, keep an eye out for stories in your Auto Remarketing Today e-newsletter.