Used vehicle prices reached $19,657, which represented a 2.2% year-over-year increase, the report noted.
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Edmunds is forecasting 1,335,313 new vehicles sales through April, representing a 19% decline from March and a 6% decline from the same time last year.
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The average interest rate for a new-vehicle loan in the first quarter of 2018 was 5.7%, according to Edmunds, up from the same time in 2013, when new-vehicle interest rates averaged 4.4%.
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Toyota and Porsche led mainstream and luxury brands in Edmunds’ 2018 Best Retained Value awards. Collectively, the two brands earned eight of the 18 brand-level awards that Edmunds gives out each year.
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The used-vehicle industry reached a record-breaking 39.2 million in sales in 2017, representing a 1.6% year-over-year increase, according to the latest Used Car Report from Edmunds.
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Edmunds forecasts that 1,121,932 vehicles will be sold in the U.S. through January, marking a 1.4% year-over-year decline, and representing a seasonally adjusted annual rate (SAAR) of 16.7 million.
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Vehicles over 100,000 aren’t depreciating at the same as they used to due mostly to a tight supply of late-model used vehicles, according to Edmunds’ Q3 Used Vehicle Market Report.
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With the number of off-lease vehicles coming into the used car market projected to grow in the coming years, it might be the time for used car leasing to make a return, which would boost demand and price at wholesale for several used car segments, according to Swapalease.com.
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Edmunds forecasts that approximately 1.4 million new cars and trucks will be sold in September across the United States, for an estimated seasonally adjusted annual rate of 17.5 million, according to a company announcement.
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Through the first half of this year, 2.1 million vehicles have been leased, a 4.4% decline from a year ago and the first time in four years that leasing has seen a year-over-year decline, according to the latest Edmunds Lease Market Report.
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