Wholesale Prices Take Major Drop Featured
19 March 2017
In a reversal of what typically occurs in February, wholesale prices of used vehicles up to eight years old fell substantially in February, according to NADA Used Car Guide.Wholesale prices dropped 1.6 percent compared to January. The drop was counter to the 1 percent increase expected for the month and marked just the second time in the past 20 years prices fell in February.NADA Used Car Guide’s seasonally adjusted used vehicle price index fell for the eighth straight month, declining 3.8 percent from January to 110.1. The drop was by far the worst recorded for any month since November 2008. February’s index figure was also 8 percent below February 2016’s 119.4 result and marked the index’s lowest level since September 2010.