blue book ii car - pr newswire...4 blue book used-car market report july 2013used full-size pickup...
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Automotive Insights from Kelley Blue Book
BLUE BOOK Market Report JULY
2013
Natalie Kumaratne | Public Relations Coordinator949.267.4770 | [email protected]
Brenna Robinson | Public Relations Manager949.267.4781 | [email protected]
Kelley Blue Book Public Relations Contacts:
In This Issue:
Joanna Pinkham | Senior Public Relations Manager949.268.3079 | [email protected]
USED-CAR MARKET ANALYSIS:
Auction Values Flat Year-Over-Year in July 2013 USED-CAR MARKET ANALYSIS Auction Values Flat Year-Over-Year in July 2013
Hybrid and Electric Vehicle Values Decline 3 Percent Despite Rising Gas Prices
Hybrid Cars Lead Depreciation Through the First Half of 2013
Mid-Size Vehicle Values Continue Steady Downward Path
Luxury Mid-Size SUVs and Crossovers Up Year-Over-Year
Used Luxury Continues Modest Declines in July 2013
Mid-Size Pickup Truck Values Holding Strong in First Half of 2013
Used Full-Size Pickup Truck Values Remain Down Year-Over-Year, Face Continued Pressure from New Truck Sales
Full-Size Van Auction Values Higher Year-Over-Year
HOT USED-CAR REPORT Used Hybrid Cars Report Highest Traffic Share Increase Month-Over-Month
Chintan Talati | Senior Director, Public Relations949.267.4855 | [email protected]
$14,000
$14,500
$15,000
$15,500
$16,000
$16,500
$17,000
$17,500
$18,000
$18,500
$19,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Auct
ion
Valu
es
Auction Value Ease Above Previous Years
CY 2011 CY 2012 CY 2013
Source: Kelley Blue Book Automotive Insights
• Despiteamodestmonthlydeclineof0.89percentinJuly2013,auctionvaluedepreciationremainedrelativelymild,withvaluesendingrelativelyflatyear-over-year.
“Whileoff-leaseunitshavebecomeslightlymoreabundantatauctionsinrecentmonths,increasesinretaildemandhavehelpedtooffsettheimpactofrisingsupply,”saidAlecGutierrez,seniormarketanalystforKelleyBlueBook.“Used-carvaluesshouldcontinuetodeclineslowlyandsteadilythroughtherestofthesummer,likelydepreciating1percentpermonthonaverage.”
CAREDITION
USED
Hybrid and Electric Vehicle Values Decline 3 Percent Despite Rising Gas Prices
$0
$5,000
$10,000
$15,000
$20,000
$25,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Auct
ion
Valu
es
Hybrid & Electric Auction Values
CY 2011 CY 2012 CY 2013
Source: Kelley Blue Book Automotive Insights
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Fuel
Pric
es
Fuel Prices Rise in July
CY11 CY12 CY13
Source: U.S. Energy Information Administration
• Hybridandelectricvehiclevaluesdeclinesexceeded3percentinJuly2013,despiteanuptickinfuelprices.• Althoughfuelpricesremainabove$4.00pergalloninmanypartsofthecountry($3.68pergallonnationally),valuesofhybridandelectricvehicles
depreciatedmorethananyothersegmentsofarthisyear.
“Consumersarelesswillingtopaytopdollarforusedelectric,hybrid,andalternative-fuelcarsforanumberofreasons,”saidGutierrez.“First,leasedealsonmanypopularnewelectricvehiclessuchastheFiat500e,ChevroletSparkorNissanLEAFcanbehadforaslittleas$200permonthand$999down.Also,consumerinterestinusedalternative-energyvehicleshasfadedasmanysubcompacts,compactsandevenmid-sizecarsnowareabletoachievecloseto40mpgonthehighway.”
2 BLUE BOOK Used-Car Market Report JULY 2013
Hybrid Cars Lead Depreciation Through the First Half of 2013
$6,000
$7,000
$8,000
$9,000
$10,000
$11,000
$12,000
$13,000
$14,000
$15,000
$16,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Auct
ion
Valu
es
Mid-Size Vehicles
CY 2011 CY 2012 CY 2013
Source: Kelley Blue Book Automotive Insights
-13.2% -8.2%
-7.5% -6.2% -6.0%
-5.8% -5.5%
-5.3% -5.0%
-4.6% -4.2%
-3.6% -3.2%
-2.9% -2.8% -2.6%
-2.1% -2.1%
-1.8% -1.5%
-0.9% -0.5%
0.7% 2.3% 2.3%
-14% -12% -10% -8% -6% -4% -2% 0% 2% 4%
Hybrid CarCompact Crossover
Premium Luxury CarLuxury Car
Mid-Size CrossoverMid-Size Car
Full-Size CrossoverLuxury Crossover
Compact CarNear Luxury Car
AverageFull-Size Car
Subcompact CarLuxury Sport Utility
Premium Sports CarCompact Luxury Car
ExoticVan
High PerformanceFull-Size Pickup Truck
MinivanMid-Size Sport UtilityFull-Size Sport Utility
Sports CarMid-Size Pickup Truck
Auction Values, First-Half 2013
June 28, 2013 vs. January 1, 2013 Source: Kelley Blue Book Automotive Insights
Mid-Size Vehicle Values Continue Steady Downward Path
• Mid-sizevehiclescontinueonasteadydownwardpath,movingdown0.4percentinJuly2013.
USED-CAR MARKET ANALYSIS:continued
• Inthefirsthalfof2013,averageauctionvaluesdeclined4.2percentor$195overall.
• Themid-sizetruckandsportscarsegmentsarebothup2.3percentfromwheretheystartedtheyearintermsofauctionvalues,withtrucksoutperformingduetoincreasingconsumerdemandasseveralmodelsrecentlyhaveendedproduction.
“Thehybridcarsegmentisdownsignificantlyat13.2percentor$2,432,despitefuelpricesremainingrelativelyflatthroughoutthefirsthalfoftheyear,”saidGutierrez.“Thisreiteratesthatconsumersarebecominglesswillingtopaytopdollarforvehicleswithintheusedhybridcarmarket.”
• KelleyBlueBookFieldAnalystshavereportedthatinsomepartsofthenation,auctionsareinundatedwithHondaAccordleasematurityreturns.
• DespiteminimaldeclinesinJuneandJuly2013,valuesarestilldown2.9percentincomparisontothistimelastyear.
Luxury Mid-Size SUVs and Crossovers Up Year-Over-Year
$27,000
$28,000
$29,000
$30,000
$31,000
$32,000
$33,000
$34,000
$35,000
$36,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Auct
ion
Valu
es
Luxury Mid-Size SUV/Crossover
CY 2011 CY 2012 CY 2013
Source: Kelley Blue Book Automotive Insights
• Despitetheluxurymid-sizeutilitysegmentdeclining,theyarestillholdingtheirvaluesbetterincomparisontothelasttwoyears.
• ThetopthreeperformerswithinthesegmentarethePorscheCayenne,VolvoXC90andMercedes-BenzM-Class,moving10.5percent,9.7percentand6.9percent,respectively.
• Luxurymid-sizeSUVsandcrossoversarethebestperformingsub-segmentintheSUV/crossoversegment,trending4.2percentabovelevelsseenatthistimein2012.However,themid-sizeSUVandcrossoverssub-segmentisbringingdowntheSUVandcrossoversegmentby0.5percent.
• Valuesoflate-modelusedluxurymid-sizeSUVsandcrossoversaretrending4.2percentabovelevelsseenatthistimein2012.
“Signsofeconomicimprovementandrisingconsumerconfidenceishavingawealtheffect,asauctionvaluesofluxurymid-sizeSUVsandcrossoversareoutperformingmid-sizeSUVsandcrossovers,”saidGutierrez.
3 BLUE BOOK Used-Car Market Report JULY 2013
Used Luxury Continues Modest Declines in July 2013
Mid-Size Pickup Truck Values Holding Strong in First Half of 2013
-1.5%
-2.8%
-0.9%
-3.0%
-2.5%
-2.0%
-1.5%
-1.0%
-0.5%
0.0%Jul-11 Jul-12 Jul-13
Auct
ion
Valu
e Ch
ange
, 1- t
o 3-
Year
-Old
M
odel
s
Luxury Values Only Slightly Down
Source: Kelley Blue Book Automotive Insights
$11,000
$11,500
$12,000
$12,500
$13,000
$13,500
$14,000
$14,500
$15,000
$15,500
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Auct
ion
Valu
es
Mid-Size Pickup Truck Auction Values
CY 2011 CY 2012 CY 2013
Source: Kelley Blue Book Automotive Insights
Jun-13 Jul-13 % ChgEntry-Level Luxury Car $22,075 $21,803 -1.2%High-End Luxury Car $48,845 $47,914 -1.9%Luxury Car $30,522 $30,205 -1.0%Luxury Compact SUV/Crossover $27,419 $27,332 -0.3%Luxury Full-Size SUV/Crossover $35,753 $36,056 0.8%Luxury Mid-Size SUV/Crossover $34,282 $33,814 -1.4%Luxury Average $28,411 $28,144 -0.9%
• Comparedtothebeginningoftheyear,everymid-sizepickupmodel(excepttheSuzukiEquator)hasseenanincreaseinvalue.
-8.1%
0.4%
2.5%
3.0%
4.8%
5.0%
5.3%
-10% -8% -6% -4% -2% 0% 2% 4% 6%
Equator
Tacoma
Ranger
Frontier
Canyon
Colorado
Dakota
Mid-SizeTruck YTD % Difference
July 19, 2013 vs. January 1, 2013 Source: Kelley Blue Book Automotive Insights
MY 2010-2012
USED-CAR MARKET ANALYSIS:continued
• Auctionvaluesof1-to3-year-oldluxuryvehiclesfellnearly1percentinJuly2013,onceagainoutperformingtheoverallmarketaverage.
• Therelativestrengthinusedluxuryvaluescomesatatimewhenbuyersalsoareinterestedinnewluxuryvehicles,withsalesup13percentthisyear.
“Forthefirsttimethisyear,luxuryauctionvaluesarenowoutperforming2012levels.LuxurySUVsandcrossoversarethestrongestperformersrightnow,cominginat1.3percenthigherthanlastyear,”saidGutierrez.“DepreciationwilllikelyincreaseslightlyinAugust2013asmorevehiclescomeoff-lease,butshouldnotapproachthe3percentdropthatwesawinAugust2012.”
• Bymid-July2013,theaveragevalueof1-to3-year-oldmid-sizepickuptruckswas2.6percenthigherthanthebeginningoftheyear.
• July2013valuesformid-sizepickupsare5.8percenthigherthanJuly2012,and9.9percenthigherthanJuly2011.
• Mid-sizepickupsarelikelytoretaintheirvaluesintheshort-term,thankstoanexpandingconstructionsector,andlowerlevelsofsupplyatauction.
• TheEquatorendedproductionwiththe2012modelyear,whenAmericanSuzukiMotorCorp.filedforbankruptcy.
• DomesticmodelsliketheRamDakota,ChevroletColoradoandGMCCanyonhavethehighestpercentagegainssincethestartof2013,benefittingfromhistoricallylowerretainedvaluethanimportmodels.
• ImportmodelsliketheNissanFrontierandToyotaTacomagenerallyhavehigherretainedvalueandlesspriceflexibilityinthemarket.
4 BLUE BOOK Used-Car Market Report JULY 2013
Used Full-Size Pickup Truck Values Remain Down Year-Over-Year, Face Continued Pressure from New Truck Sales
$15,000
$15,500
$16,000
$16,500
$17,000
$17,500
$18,000
$18,500
$19,000
$19,500
$20,000
$20,500
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Auct
ion
Valu
es
Full-Size Pickup Truck Auction Values
CY 2011 CY 2012 CY 2013
Source: Kelley Blue Book Automotive Insights
USED-CAR MARKET ANALYSIS:continued
• Theaveragevalueof1-to3-year-oldfull-sizepickupsinJuly2013was10.4percenthigherthanJuly2011,but0.37percentlowerthanJuly2012.
• Thisyear-over-yeardipispartiallyduetoincreasednew-carsales,stemmingfromthereleaseofthenew2013Ram,2014ChevroletSilveradoandGMCSierramodels.
• Supplyforusedpickupsincreasedaswell;auctionvolumeinthefirstsixmonthsof2013increased2.4percentcomparedtothefirsthalfof2012.
-6.1%
-5.4%
-4.1%
-3.0%
-2.4%
-2.0%
-0.1%
3.2%
-8% -6% -4% -2% 0% 2% 4%
F-Series
Ridgeline
Avalanche
Sierra
Tundra
Silverado
Titan
Ram Pickup
Full-Size Truck YTD % Difference
July 19, 2013 vs. January 1, 2013 Source: Kelley Blue Book Automotive Insights
MY 2010-2012
• Rammodelsweretheonlyusedfull-sizepickuptruckswithaveragevaluesstillhigherthanatthestartof2013.
• Thankstoa2013model-yearrestyling,Rampickupsarethefreshestfull-sizepickupsavailableintheusedmarket,asthe1-year-oldtruckscontinuetoreachwholesaleauctions.
Full-Size Van Auction Values Higher Year-Over-Year
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Auct
ion
Valu
es
Full-Size Van Auction Values
CY 2011 CY 2012 CY 2013
Source: Kelley Blue Book Automotive Insights
• Valuesoffull-sizevansremainassteadyasever,currentlyslightlyaboveaveragepricespaidineither2012or2011.
• ValuesincreasedslightlyinJuly2013,withtheFordESeriesPassengerimproving1.5percent,ChevroletExpressCargo1.3percentandGMCSavanaCargoup1.4percent.
• KelleyBlueBookexpectsfull-sizevanstocontinuetoholdtheirvalue.Theweek-over-weekchangeshavebeenstablewithsmallpositivechanges.
The statements set forth in this publication are the opinions of the authors and are subject to change without notice. This publication has been prepared for informational purposes only. Kelley Blue Book assumes no responsibility for errors or omissions.
5 BLUE BOOK Used-Car Market Report JULY 2013
HOT USED-CAR REPORT:
Kelley Blue Book’s Hot Used-Car Report captures monthly used-car shopper activity on KBB.com, including a list of the top and bottom movers in the same time period. Results are provided by the Kelley Blue Book Market Intelligence Team, in an effort to help dealers better understand which used vehicles consumers are looking at most each month.
Used Hybrid Cars Report Highest Traffic Share Increase Month-Over-Month-ArthurHenry,managerofmarketintelligenceandmarketanalyst,KelleyBlueBook
• Drivingthistrendistheseasonalsummergashike.• Themodelbenefitingmostfromthistrendisthe2010ToyotaPrius.
Top Movers Are Mix of Small Gas Savers and Large Utility Vehicles• TheHyundaiAccenttopsthelistofusedvehicleswiththehighestshareofgrowth.
-26.8%
-18.4%
-17.4%
-16.2%
-15.6%
-14.1%
-14.0%
-12.0%
-11.4%
-10.6%
7.9%
9.0%
10.8%
11.6%
16.7%
17.7%
18.6%
21.1%
24.7%
27.4%
-100% -50% 0% 50% 100%
2009 BMW M3
2011 MERCEDES-BENZ E-CLASS
2009 MERCEDES-BENZ E-CLASS
2010 BMW 5 SERIES
2009 MERCEDES-BENZ C-CLASS
2009 INFINITI G
2009 BMW 3 SERIES
2008 TOYOTA TUNDRA
2010 BMW 3 SERIES
2010 TOYOTA CAMRY
2011 TOYOTA CAMRY
2011 HONDA CR-V
2011 HONDA ACCORD
2011 JEEP GRAND CHEROKEE
2011 HONDA ODYSSEY
2011 SUBARU OUTBACK
2010 TOYOTA PRIUS
2009 HYUNDAI ELANTRA
2010 MAZDA CX-7
2009 HYUNDAI ACCENT
% Change in Share Month-Over-Month
Monthly Used-Car Shopping Activity Growth Top/Bottom 10 Models
Information based on 2011 to 2007 Model-Year Vehicles
-5.0% -4.8%
-4.5%
-4.4%
-3.3%
-3.2%
-2.9%
-1.5%
-1.1%
-0.7%
0.0%
0.1%
0.3%
0.5%
1.0%
1.2%
1.3%
1.6%
1.8%
2.0%
2.0%
3.0%
4.7%
-20% -10% 0% 10% 20%
Van
Premium Sports Car
Luxury Car
Sports Car
Entry Luxury Car
High Performance
Mid-Size Pickup Truck
Luxury Sport Utility
Full-Size Pickup Truck
Full-Size Car
Premium Luxury Car
Luxury Crossover
Mid-Size Sport Utility
Mid-Size Car
Compact Car
Full-Size Crossover
Subcompact Car
Minivan
Compact Luxury Car
Mid-Size Crossover
Compact Crossover
Full-Size Sport Utility
Hybrid Car
% Change in Share Month-Over-Month
Monthly Used-Car Shopping Activity Growth Segments
Information based on 2011 to 2007 Model-Year Vehicles
About Kelley Blue Book (www.kbb.com)
Foundedin1926,KelleyBlueBook,TheTrustedResource®,istheonlyvehiclevaluationandinformationsourcetrustedandrelieduponbybothconsumersandtheindustry.Eachweekthecompanyprovidesthemostmarket-reflectivevaluesintheindustryonitstop-ratedwebsitewww.kbb.com,includingitsfamousBlueBook®Trade-InandSuggestedRetailValuesandFairPurchasePrice,whichreportswhatothersarepayingfornewcarsthisweek.Thecompanyalsoprovidesvehiclepricingandvaluesthroughvariousproductsandservicesavailabletocardealers,automanufacturers,financeandinsurancecompaniesaswellasgovernmentalagencies.KBB.comprovidesconsumerpricingandinformationoncarsforsale,minivans,pickuptrucks,sedan,hybrids,electriccars,andSUVs.KelleyBlueBookCo.,Inc.isawhollyownedsubsidiaryofAutoTraderGroup.
• Shoppersaregravitatingtowardthismodelbecauseofitsvalueproposition.• Full-sizeutilityvehiclesareexperiencingincreasesinshoppingactivity.
• Seasonaltrend:Morefamiliesaretakingroadtripsforvacationsandarelookingforalargevehicletohaulthefamily.
Luxury Interest Cools• Shoppingforusedluxuryvehiclesisstrongestinspringandfall;thesegmenttypicallyseeslullsinsummerandwinter.• ThemodelsexperiencingthegreatestdecreaseininterestaretheBMW3Seriesand5Series,andMercedes-BenzC-ClassandE-Class.