|By PR Newswire||
|January 10, 2014 05:09 PM EST||
Prices up from a year ago, but growth will likely end in 2014
McLEAN, Va., Jan. 10, 2014 /PRNewswire-USNewswire/ -- Prices for used cars and light trucks have increased for five straight years, says the NADA Used Car Guide. December closed out 2013 with prices 0.4% higher than in 2012.
"A stronger economy, pent-up demand and favorable credit conditions underpinned used vehicle price strength in 2013," said Jonathan Banks, executive automotive analyst of the NADA Used Car Guide, in the December edition of Guidelines, a monthly report on new and used vehicle sales trends and price movement.
"These positive factors helped to balance downward price pressure caused by an increase in the supply of late-model used vehicles, which began to grow again in 2013 following a five year slide from a falloff in new vehicle sales and trade-ins during the recession," Banks added.
Used prices depreciated by 1% in December, a half point better than the 1.5% fall recorded in November.
NADA's seasonally adjusted used vehicle price index dropped to 124.7, eight-tenths of a percentage point lower than November's record high of 125.5. Despite the decline, December's figure stands as one of the highest reached on NADA's index, which measures the change in prices for used vehicles up to eight years in age.
Trade-in values for 2006 to 2013 model year units, according to the NADA Official Used Car Guide, were reduced by a cumulative average of 15.9% in 2013, a slight improvement from 16.1% in 2012.
A combination of lower supply and moderating gasoline prices helped keep overall light truck depreciation to just 13.5% last year, a figure better than the 17.6% rate of decline recorded for cars. Dropping by an average of nearly 21%, luxury car trade-in values declined the most of any segment last year; conversely, large SUV and pickup truck (midsize and full-size) values slipped by an average of 8.4%.
"Demand for both new and used full-size pickup trucks was extremely high last year," added Banks. "The segment is unique because it supports both consumer and commercial needs, and the fact that used full-size pickups lost about 8% of their value last year is clear evidence that America's love affair with the segment remains strong."
Price values for the voluminous compact and midsize car segments declined by an average of 17.2%, while values for the industry's biggest light truck segment based on new sales – midsize utilities – declined by an average of 15.7%.
NADA expects used vehicle prices in January 2014 to be flat or just down from December's levels before rising by 2.5% to 3% through March. By comparison, prices increased by 1.9% over the same period last year as demand was tempered by higher payroll taxes that went into effect at the start of 2013. Prices began 2014 at 18% higher than they were prior to the start of the recession in 2007.
While price movement is expected to be better than year-ago levels through the first quarter, expanding late-model supply should translate into more severe depreciation over the remainder of the year. As a result, used vehicle prices are expected to fall on an annual basis for the first time since 2008; however, economic growth, lower unemployment and a highly competitive credit environment are expected to minimize the negative influence of higher supply.
NADA's official forecast for 2014 will be released at the NADA Convention & Expo 2014 in New Orleans on Saturday, Jan. 25. Preliminary results indicate prices for used vehicles up to eight years in age will be down by 1% to 2% on an index basis by year's end.
Click here for the January edition of Guidelines.
About the NADA Used Car Guide
Since 1933, NADA Used Car Guide has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the United States and worldwide. NADA's editorial team collects and analyzes over one million combined automotive and truck wholesale and retail transactions per month. Its guidebooks, auction data, analysis, and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. Visit nada.com/b2b to learn more.
NADA represents nearly 16,000 new-car and -truck dealerships with more than 32,000 domestic and international franchises. For more information, visit www.nada.org.
SOURCE National Automobile Dealers Association
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Mar. 28, 2017 09:30 PM EDT Reads: 3,696
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Mar. 28, 2017 09:30 PM EDT Reads: 2,196
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 28, 2017 09:30 PM EDT Reads: 3,790
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 28, 2017 08:15 PM EDT Reads: 2,312
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Mar. 28, 2017 07:00 PM EDT Reads: 4,455
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
Mar. 28, 2017 06:15 PM EDT Reads: 396
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and atten...
Mar. 28, 2017 06:15 PM EDT Reads: 362
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Mar. 28, 2017 06:00 PM EDT Reads: 831
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Mar. 28, 2017 04:45 PM EDT Reads: 424
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Mar. 28, 2017 03:45 PM EDT Reads: 4,119
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Mar. 28, 2017 03:45 PM EDT Reads: 3,091
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to m...
Mar. 28, 2017 03:45 PM EDT Reads: 374
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 28, 2017 03:45 PM EDT Reads: 3,773
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 28, 2017 03:00 PM EDT Reads: 9,637
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 28, 2017 03:00 PM EDT Reads: 2,099