RVI: Used Values Climb from 2010 but Static Sequentially
The wholesale market showed double-digit growth on a year-over-year basis in October, but it was rather flat compared to September, according to the latest RVI Market Update released Tuesday.
Overall, the RVI Used Car Price Index for the month was 1.415, up 12.6 percent year-over-year and 0.8 percent month-over-month.
Breaking RVI’s data down further, used values for all 19 segments in the firm’s data set were up from October 2010. Compared to September, all but five increased in value.
“Many segments had small gains from month-over-month,” officials noted. “Luxury full-size sedans (up 2.7 percent) and small pickups (up 4.2 percent) led the market, with full-size vans (down 1.9 percent) and luxury coupes (down 1.7 percent) lagging the rest of the market.”
The only other segments to show a month-over-month drop were luxury midsize sedans, which were off 0.5 percent, and compacts, which dipped 0.3 percent.
Minivans saw no change.
On a year-over-year basis, the most significant increase was in the subcompact segment (up 29.3 percent), while full-size pickups showed the smallest uptick (up 6.2 percent). Sixteen of the 19 segments saw their values climb by double-digit percentages.