Study: Average used-vehicle price hits 4-year high.(Remarketing)

Automotive News, March, 2006 by Sawyers, : Arlena; Sawyers, Arlena

Byline: Arlena Sawyers

For the first time in nearly four years, the average wholesale price of used vehicles exceeded $10,000 last month.

Used cars and trucks sold at auction for an average price of $10,094 in February, ADESA Analytical Services says. That average was 6.9 percent higher than in February 2005. It was 2.6 percent higher than in January 2006.

The last time the average wholesale price surpassed $10,000 was May 2002, when it was $10,021, ADESA says.

Tom Kontos, ADESA's vice president of industry relations and analytical services, says the price growth suggests that the used-vehicle market has recovered broadly from its slump after the terrorist attacks of Sept. 11, 2001.

Wholesale prices hit bottom in the spring...

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