Auto Industry
Industry: Email Alert RSS FeedBig pickups and SUVs lead plunge in used-vehicle prices.(Remarketing)(sport utility vehicles)
Automotive News, March, 2008 by Sawyers, Arlena
Byline: Arlena Sawyers
Wholesale prices of big used SUVs and pickups plunged by double-digit percentages last month compared with February 2007, amid weak demand and rising gasoline prices.
"Large SUVs and pickups remained the weakest segments of the market, both in recent months and over the past year,'' said Tom Webb, chief economist at the Manheim vehicle auction company.
In February, large SUVs sold at auction for an average price of $11,790, 14.7 percent lower than in the year-ago month, reported ADESA Inc. Full-sized pickups sold for an average wholesale price of $10,669, down 10.5 percent from February 2007.
Those slumps were largely responsible for a 2.5 percent year-over-year decline in overall used-vehicle prices. The...
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