Auto Remarketing has some information on the rebound of the used car market, which has been suffering with the effects of economic recession. Now it seems that things may be on their way back up:
Certified pre-owned and used-vehicle prices gained ground once again in May, reflecting the movement seen over the last few months in the midst of tight supply and a healthier auto market, according to AutoTrader.com. In fact, the asking prices of all of the 20 most-viewed used vehicles on the site climbed year-over-year in May, while 18 of the top 20 CPO units moved forward in price, as well.
“Average asking prices for new, used and certified pre-owned vehicles listed for sale on AutoTrader.com in May continued the upward trend that began several months ago as auto inventories tightened and the auto market improved,” officials noted.
The Ford F-150 was AutoTrader.com’s most popular used model again, and its average asking price was up 12.32 percent from a year ago. The biggest climber among the most popular used vehicles on the site was the Jeep Wrangler — ranked No. 7 for total views. This vehicle’s asking price jumped from $17,509 to $20,576 (up 17.52 percent). As far as CPO models, the BMW 3-Series was the most-viewed vehicle, and its prices were up 2.69 percent. Moving ahead the farthest in asking price on top 20 certified models list was the F-150, whose prices climbed from $22,212 to $26,693 (up 20.17 percent)
If you are looking for used vehicles for your business, now may be a good time to buy before prices rise any higher. And to save even more money, don’t forget that you can always save up to 15% on fuel for your new vehicles with FleetCardsUSA.
Photo courtesy of PinkMoose under the Creative Commons License