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Peak in small car prices shows erratic growth
The used car market is a fickle place as demonstrated by the National Automobile Dealers Association Used Car Guide. Surprisingly, the report on the peak in small car prices shows erratic growth, which lets used car dealers everywhere breathe a sigh of relief.
Compiled from a report at AutoRemarketing.com, the below figures paint a picture of a decidedly irrational rise in prices for small, fuel-efficient used cars. Senior NADA analyst Jonathan Banks projected in the article that these average trade-in values to be 10 to 30 percent higher in August than they were at the beginning of 2011.
That's just lunacy. A Chevrolet Aveo, possibly one of the least inspired used cars on the market, jumped almost 21% in value from January to August? Even the lowly Suzuki Reno, an even less compelling used car, has jumped more than 15%
Here is the NADA Used Car Guide's Top 10 Small Cars for increased value by percentage from January 2011 to August 2011 (based on projections):
Model: Jan. Price / June Price / Aug. Price Dollar Increase Percent Increase
Used car dealer’s can now do what they do best and sell these vehicles along with a warranty, knowing that their customer and the business are both being taken care of.