Via Moody’s:
Used-Vehicle Price Growth Hits the Brakes but Doesn’t Come to a Complete Stop
Australian used-vehicle prices reached yet another all-time high in November. According to the Datium Insights-Moody’s Analytics Price Index, wholesale used-vehicle prices are 33% above where they were at this point last year. Price growth has slowed considerably since the historic jump in values began in May. From May through August, prices rose anywhere from 6% to 11% on a monthly basis. In November prices rose at below 1% month over month, less than half the rate of any month since May. In fact, prices fell slightly across the widely popular truck/ute/SUV segment in November.
Key points from the attached report are as follows –
- Price growth slowed considerably in November, rising less than 1% month over month.
- Australian used-vehicle prices hit yet another all-time high in November, reaching 33% higher than prices in 2019.
- Wholesale used-vehicle prices fell slightly across the widely popular truck/ute/SUV segment in November, but rose in the passenger car segment.
- With COVID-19 transmission remaining in check public transportation routes searched picked up, increasing by almost 30% in November.
CHART: Prices Inch Higher in November
Datium Insights-Moody’s Analytics Price Index, 2010=100, SA
Bust next as equity mate liberates new car sales?
