blue book ii car - pr newswire · 2013. 10. 21. · small cars and alternative energy vehicles. ......

6
Automotive Insights from Kelley Blue Book BLUE BOOK Market Report JUNE 2013 Natalie Kumaratne | Public Relations Coordinator 949.267.4770 | [email protected] Brenna Robinson | Public Relations Manager 949.267.4781 | [email protected] Kelley Blue Book Public Relations Contacts: In This Issue: Joanna Pinkham | Senior Public Relations Manager 949.268.3079 | [email protected] USED-CAR MARKET ANALYSIS: Auction Values Ease into Typical Summer Decline USED-CAR MARKET ANALYSIS Auction Values Ease into Typical Summer Decline Fuel Prices Remain Mostly Flat in May and June Compact Segment - Retained Value Consistent Declines in the Compact Segment Imports Outperforming Most Full-Size Pickup Trucks in June Mid-Size Pickup Trucks Trending Higher in 2013 Due to Diminished Supply Minivan Auction Values Drop During Last Four Weeks SUV/Crossover Segment Declines in June Mid-Size Vehicles Continue Decline in June Full-Size Sedans Down Year-to-Date Luxury Values See Small Declines in June Luxury Utility Vehicles Retaining Strong Values HOT USED-CAR REPORT Gas Prices and Fuel Efficiency Affect the Market Chintan Talati | Senior Director, Public Relations 949.267.4855 | [email protected] $14,000 $14,500 $15,000 $15,500 $16,000 $16,500 $17,000 $17,500 $18,000 $18,500 $19,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Auction Values Auction Values Begin Summer Decline CY 2011 CY 2012 CY 2013 Source: Kelley Blue Book Automotive Insights Auction values declined a modest 1.2 percent in June led by declines in values of fuel-efficient small cars and alternative energy vehicles. Pickup trucks remain hot and were among the best performing segments overall with nearly no depreciation for the month. “Used-vehicle values should continue to decline at a pace of nearly 1 percent per month through summer, thanks to improving supply conditions at auction and enticing finance and lease offers on news cars,” said Alec Gutierrez, senior market analyst, Kelley Blue Book. CAR EDITION USED Fuel Prices Remain Mostly Flat in May and June $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Fuel Prices Fuel Prices Remain Flat May-June CY11 CY12 CY13 Source: U.S. Energy Information Administration Fuel prices remained mostly flat through May and early June relative to previous years where fuel price declines began in April and May. At the moment, fuel prices are a little more than $0.10 per gallon higher than during the same time last year. “We expect a late seasonal trend to take effect starting mid-June, which will bring fuel prices down slightly going into summer months,” said Gutierrez. “With fuel prices expected to retreat, consumers should have no trouble getting a great deal on a used compact this summer.”

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Page 1: BLUE BOOK II CAR - PR Newswire · 2013. 10. 21. · small cars and alternative energy vehicles. ... 4 BLUE BOOK Used-Car Market Report JUNE 2013 SUV/Crossover Segment Declines in

Automotive Insights from Kelley Blue Book

BLUE BOOK Market Report JUNE

2013

Natalie Kumaratne | Public Relations Coordinator949.267.4770 | [email protected]

Brenna Robinson | Public Relations Manager949.267.4781 | [email protected]

Kelley Blue Book Public Relations Contacts:

In This Issue:

Joanna Pinkham | Senior Public Relations Manager949.268.3079 | [email protected]

USED-CAR MARKET ANALYSIS:

Auction Values Ease into Typical Summer DeclineUSED-CAR MARKET ANALYSIS Auction Values Ease into Typical Summer Decline

Fuel Prices Remain Mostly Flat in May and June

Compact Segment - Retained Value

Consistent Declines in the Compact Segment

Imports Outperforming Most Full-Size Pickup Trucks in June

Mid-Size Pickup Trucks Trending Higher in 2013 Due to Diminished Supply

Minivan Auction Values Drop During Last Four Weeks

SUV/Crossover Segment Declines in June

Mid-Size Vehicles Continue Decline in June

Full-Size Sedans Down Year-to-Date

Luxury Values See Small Declines in June

Luxury Utility Vehicles Retaining Strong Values

HOT USED-CAR REPORT Gas Prices and Fuel Efficiency Affect the Market

Chintan Talati | Senior Director, Public Relations949.267.4855 | [email protected]

$14,000

$14,500

$15,000

$15,500

$16,000

$16,500

$17,000

$17,500

$18,000

$18,500

$19,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Auct

ion

Valu

es

Auction Values Begin Summer Decline

CY 2011 CY 2012 CY 2013

Source: Kelley Blue Book Automotive Insights

• Auctionvaluesdeclinedamodest1.2percentinJuneledbydeclinesinvaluesoffuel-efficientsmallcarsandalternativeenergyvehicles.

• Pickuptrucksremainhotandwereamongthebestperformingsegmentsoverallwithnearlynodepreciationforthemonth.

“Used-vehiclevaluesshouldcontinuetodeclineatapaceofnearly1percentpermonththroughsummer,thankstoimprovingsupplyconditionsatauctionandenticingfinanceandleaseoffersonnewscars,”saidAlecGutierrez,seniormarketanalyst,KelleyBlueBook.

CAREDITION

USED

Fuel Prices Remain Mostly Flat in May and June

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Fuel

Pric

es

Fuel Prices Remain Flat May-June

CY11 CY12 CY13

Source: U.S. Energy Information Administration

• FuelpricesremainedmostlyflatthroughMayandearlyJunerelativetopreviousyearswherefuelpricedeclinesbeganinAprilandMay.Atthemoment,fuelpricesarealittlemorethan$0.10pergallonhigherthanduringthesametimelastyear.

“Weexpectalateseasonaltrendtotakeeffectstartingmid-June,whichwillbringfuelpricesdownslightlygoingintosummermonths,”saidGutierrez.“Withfuelpricesexpectedtoretreat,consumersshouldhavenotroublegettingagreatdealonausedcompactthissummer.”

Page 2: BLUE BOOK II CAR - PR Newswire · 2013. 10. 21. · small cars and alternative energy vehicles. ... 4 BLUE BOOK Used-Car Market Report JUNE 2013 SUV/Crossover Segment Declines in

2 BLUE BOOK Used-Car Market Report JUNE 2013

Compact Segment - Retained Value

• Inasegmentwherethereisfiercecompetitionamongcompetitors,the2012HyundaiVelosterstandsoutashavingthebestretainedvalueamongthecompactcarsegment.

“Theall-newfor2012Velostermaintainsthehighestretainedvaluewithinthecompactcarsegmentwithanimpressive82percentofitsMSRP,”saidGutierrez.“Theonlyothervehiclewithinthesegmenttoholdabove80percentofitsretainedvalueafteroneyearisthecompletelyredesignedfor2012SubaruImpreza.”

• ThoselookingforagreatdealmaywanttoconsidertheMazda3,ChevroletCruzeorFordFocus,eachofwhichareavailableforthefractionofabrandnewmodel.

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Auct

ion

Valu

es

Compact Segment Continues Steady Decline

CY 2011 CY 2012 CY 2013

Source: Kelley Blue Book Automotive Insights

• CompactsegmentvaluesremainedatasteadydeclinethroughoutMayandJune,maintainingasegmentaveragevalueslightlylowerthanin2012.

63.6%

65.5%

67.1%

67.3%

67.5%

69.0%

69.5%

72.5%

72.6%

80.8%

82.0%

0% 20% 40% 60% 80% 100%

Jetta

Focus

Cruze

MAZDA3

Corolla

Lancer

Segment Average

Elantra

Civic

Impreza

Veloster

MY1

2 Re

tain

ed V

alue

(Auc

tion

Valu

e/M

SRP)

Retained Value, Compact Segment

Source: Kelley Blue Book Automotive Insights

Consistent Declines in the Compact Segment

$9,125 $9,575 $9,772

$10,195 $10,350

$11,050 $11,065 $11,070 $11,196 $11,200 $11,234 $11,251 $11,439 $11,447

$11,846 $12,040 $12,223 $12,282 $12,329 $12,512 $12,807 $12,914

$14,342 $15,825

$17,050

$0 $5,000 $10,000 $15,000 $20,000

Chevrolet CobaltChrysler PT Cruiser

Nissan CubeChevrolet HHRNissan Sentra

Volkswagen BeetleScion xD

Mitsubishi LancerDodge CaliberToyota Matrix

Mazda Mazda3Ford Focus

Toyota CorollaKia Forte

Segment AverageHyundai Elantra

Volkswagen JettaScion xB

Subaru ImprezaHonda Civic

Chevrolet CruzeKia SoulScion tC

Hyundai VelosterBuick Verano

MY 2010-2012

Kelley Blue Book Auction Value as of June 14, 2013

Average Auction Value, Compact Segment

Source: Kelley Blue Book Automotive Insights

“Theaverageauctionvalueforvehicleswithinthecompactsegmentcomesinat$11,846with16vehiclesfallingwithinthe$11,000to$13,000range,”saidGutierrez.“Withsuchalargenumberofvehiclesfallingwithina$2,000range,itmakesthecompactsegmentoneofthemostcompetitivesegmentsinthemarket.”

• Valuesinthecompactsegmenthavebeennegativelyimpactedbyfallingfuelpricesaswellaslowleaseoffersonnewvehicles.

USED-CAR MARKET ANALYSIS:continued

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3 BLUE BOOK Used-Car Market Report JUNE 2013

Imports Outperforming Most Full-Size Pickup Trucks in June

Mid-Size Pickup Trucks Trending Higher in 2013 Due to Diminished Supply

-0.8%

-0.6%

-0.3%

-0.3%

0.0%

0.0%

0.4%

0.5%

-1.0% -0.8% -0.6% -0.4% -0.2% 0.0% 0.2% 0.4% 0.6%

Avalanche

Ridgeline

Silverado

Sierra

F-Series

Ram Pickup

Titan

Tundra

Four-Week Auction Value Change (%)

June 14, 2013 vs. May 17, 2013 Source: Kelley Blue Book Automotive Insights

$11,000

$11,500

$12,000

$12,500

$13,000

$13,500

$14,000

$14,500

$15,000

$15,500

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Auct

ion

Valu

es

Mid-Size Trucks Trend Higher

CY 2011 CY 2012 CY 2013

Source: Kelley Blue Book Automotive Insights

• Bymid-June,auctionvaluesfortheToyotaTundraandNissanTitanwereup0.5percentand0.4percent,respectively,frommid-Mayvalues.

• InterestinuseddomestictrucksliketheGMCSierraandChevroletSilveradomaybewaningastheredesigned2014modelsbegintoshowupondealerlots.

• TheChevroletAvalanche,discontinuedaftermodel-year2013,wasthehardesthittruckinJune,dropping0.8percentmonth-over-month.

• Theaverageauctionvaluefor1-to3-year-oldmid-sizepickuptrucksrose0.3percentinJunefromMayvalues.

• ComparedtoJune2012,averageauctionvaluesforusedmid-sizetrucksinJune2013are$596or4.2percenthigher.

“Highervaluesin2013arelikelyduetotheendofproductionforseveralmodelsliketheFordRangerandRamDakota,decreasingtheoverallsupplyofusedmid-sizepickuptrucksinthemarket,”saidGutierrez.“Adecreasedsupplyalsogreatlyaffectstruckswithhigherauctionvalueretention,suchastheToyotaTacoma,byincreasingtheiraveragemarketvalue.”

• Duringthelastfourweeks,auctionvaluesof1-to3-year-oldminivansfell1.1percent,whichwasslightlybetterthanthemarketaverage,down1.3percent.

• Valuesforallvehiclesinthesegmenthavedropped,withtheexceptionoftheMazda5(0.5percentincrease).

• ThevolumeofMazda5attheauctionhasdecreasedcomparedtolastmonth(aswellaslastyear),whichmayaccountfortheincreaseinvalues.

• TheNissanQuestandVolkswagenRoutanhavehadthebiggestdecreases.Theauctionvalueshavedropped2.3percentand2.2percentrespectively.

• Minivanshaveseenmarketshareerodeasconsumershaveoptedforcompactcrossoversratherthanminivansduetobetteravailablefueleconomy.

Minivan Auction Values Drop During Last Four Weeks

-2.3%

-2.2%

-1.7%

-1.4%

-1.4%

-0.9%

-0.9%

-0.2%

0.5%

-2.5% -2.0% -1.5% -1.0% -0.5% 0.0% 0.5% 1.0%

Quest

Routan

Odyssey

Town & Country

Sedona

Caravan

Ram Cargo Van

Sienna

Mazda5

Four-Week Auction Value Change (%) June 14, 2013 vs. May 17, 2013

Source: Kelley Blue Book Automotive Insights

USED-CAR MARKET ANALYSIS:continued

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4 BLUE BOOK Used-Car Market Report JUNE 2013

SUV/Crossover Segment Declines in June

Mid-Size Vehicles Continue Decline in June

$11,000

$11,500

$12,000

$12,500

$13,000

$13,500

$14,000

$14,500

$15,000

Jan

Jan

Jan

Feb

Feb

Mar

Mar

Apr

Apr

May

May Jun

Jun Jul

Jul

Jul

Aug

Aug

Sep

Sep

Oct

Oct

Nov

Nov De

cDe

cDe

c

Auct

ion

Valu

es

Mid-Size Vehicles Continue Decline

CY 2011 CY 2012 CY 2013

Source: Kelley Blue Book Automotive Insights

• AllSUV/crossoversegmentsaredecreasinginJunewiththebiggestchangebeingincompactandluxurycompact.

• Withsomanyredesignedandall-newentrantsavailabletoconsumerssuchastheToyotaRAV4,HondaCR-V,FordEscapeandMazdaCX-5,itisonlynaturaltoseevaluesofpreviousgenerationmodelstakeahit.

• ThebiggestchangesaretheMazdaTribute(down8.5percent),MercuryMariner(down7.3percent),SuzukiGrandVitara(down5.7percent)andCadillacSRX(down5.7percent),whichareallinthecompact/luxurycompactcrossoversegment.

• Aswemoveintothesummermonths,KelleyBlueBookexpectsvaluestocontinuetodecline.

• Mid-sizesedansshouldendJunemorethan6percentbelowpricespaidlastyear.

• InJune,mid-sizesedansdeclinednearly3percent,aboutequalwiththeindustryleadingdepreciationseeninthesmallcarandaltenergysegments.

“Mid-sizesedanshaveseendownwardpricepressureasconsumershavebeenreluctanttopaytopdollarforthecurrentbatchoflate-modelpreviousgenerationofferingswhenthelatestgenerationnewalternativesareavailablewithaffordablefinanceratesandlowleaseoffersstartingwellbelow$300permonth,”saidGutierrez.

Segment 13-May 13-Jun % ChangeCompact Crossover $16,378 $15,877 -3.10%Mid-size SUV/Crossover $19,308 $19,190 -0.60%Full-Size SUV/Crossover $24,883 $24,675 -0.80%

Segment 13-May 13-Jun % ChangeLuxury Compact Crossover $27,987 $27,419 -2.00%Luxury Mid-size SUV/Crossover $34,486 $34,282 -0.60%Luxury Full-size SUV $35,991 $35,753 -0.70%

Source: Kelley Blue Book Automotive Insights

Full-Size Sedans Down Year-to-Date

$12,000

$12,500

$13,000

$13,500

$14,000

$14,500

$15,000

$15,500

$16,000

$16,500

$17,000

Jan

Jan

Jan

Feb

Feb

Mar

Mar

Apr

Apr

May

May Jun

Jun Jul

Jul

Jul

Aug

Aug

Sep

Sep

Oct

Oct

Nov

Nov De

cDe

cDe

c

Auct

ion

Valu

es

Full-Size Sedans Down YTD

CY 2011 CY 2012 CY 2013

Source: Kelley Blue Book Automotive Insights

• Valuesoflate-modelusedfull-sizesedanaretrendingnear5percentbelowlevelsseenatthistimelastyear.

• Usedfull-sizesedanshaveseenadeclineinterestasconsumershavegravitatedtowardsbetterequippedandmorefuel-efficientmid-sizesedansaswellasredesignedandsignificantlyimprovednewfull-sizeofferingssuchastheChevroletImpala,HyundaiAzeraandToyotaAvalon.

“Overall,thepeakoccurredearlyinAprilthisyearandthevalueshavebeenonadownwardslopesincethen,”saidGutierrez.“Theearlypeakandsubsequentdownturninsegmentvaluescanalsobeattributedtoajumpinoff-leaseinventoryhittingauctionsinrecentmonths.”

USED-CAR MARKET ANALYSIS:continued

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5 BLUE BOOK Used-Car Market Report JUNE 2013

Luxury Values See Small Declines in JuneJun-13 May-13 % Chg

Entry-level Luxury Car $22,075 $22,230 -0.7%High-end Luxury Car $48,845 $49,655 -1.6%Luxury Car $30,522 $30,595 -0.2%Luxury Compact SUV/Crossover $27,419 $27,987 -2.0%Luxury Full-size SUV/Crossover $35,753 $35,991 -0.7%Luxury Mid-size SUV/Crossover $34,282 $34,486 -0.6%Average $28,411 $28,641 -0.8%

Source: Kelley Blue Book Automotive Insights

USED-CAR MARKET ANALYSIS:continued

• Auctionvaluesof1-to3-year-oldluxuryvehiclesfellnearly0.8percentinJune,outperformingtheoverallmarketaverageof1.3percent.DeclineswereatasimilarpaceasinMay2013.

• NoluxurysegmentappreciatedinJune,whilevaluesofcompactluxurySUV/Crossoversdroppedbyanaverageof2percent,themostofanyluxurysegment.

The statements set forth in this publication are the opinions of the authors and are subject to change without notice. This publication has been prepared for informational purposes only. Kelley Blue Book assumes no responsibility for errors or omissions.

“Throughthefirsthalfoftheyear,luxurydepreciationhasbeenrelativelymild,”saidGutierrez.“However,wemaybedueforacorrectionsoonasweheadintoJuly.InJuly2010,luxuryvaluesdropped1.5percent,whileinJuly2011,luxurycarsfell2.7percent.”

• Luxuryvaluestendtofallduringthesummermonthsinanticipationofthenewmodelyearchangeover,whichstartsinthelatesummer/earlyfalltimeframe.

Luxury Utility Vehicles Retaining Strong Values

59.4%

62.1%

62.5%

62.8%

67.3%

72.4%

72.4%

0% 20% 40% 60% 80%

High-end Luxury Car

Entry-level Luxury Car

Industry Average

Luxury Car

Luxury Full-sizeSUV/Crossover

Luxury CompactSUV/Crossover

Luxury Mid-sizeSUV/Crossover

MY1

0- 1

2 Re

tain

ed V

alue

(Auc

tion

Valu

e/M

SRP)

Luxury Utility Vehicles Retaining Value

Source: Kelley Blue Book Automotive Insights

• Compactandmid-sizeluxuryutilityvehiclesareleadingtheindustryintermsofretainedvalueofMSRPat72.4percent.Infact,fouroutofsixluxurysegmentshaveahigherretentionthantheindustryaverageof62.5percent,asoverall,theluxurymarketsitsat65.8percent.

• Audihastwoofthetopfiveluxurymodelswiththebestretainedvalue,theQ5andQ7.Itisworthytonotethatthetopfivemodelsareallcrossoverorsportutilityvehicles.

Model RetentionLand Rover LR4 83.6%Audi Q7 81.2%Porsche Cayenne 80.5%Audi Q5 79.3%BMW X3 77.6%* Only models with at least 3 model years includedSource: Kelley Blue Book Automotive Insights

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6 BLUE BOOK Used-Car Market Report JUNE 2013

HOT USED-CAR REPORT:

Kelley Blue Book’s Hot Used-Car Report captures monthly used-car shopper activity on KBB.com, including a list of the top and bottom movers in the same time period. Results are provided by the Kelley Blue Book Market Intelligence Team, in an effort to help dealers better understand which used vehicles consumers are looking at most each month.

Gas Prices and Fuel Efficiency Affect the Market-ArthurHenry,managerofmarketintelligenceandmarketanalyst,KelleyBlueBook

• Thesegmentswiththegreatestincreaseinsharearethehybridcar,compactcrossoverandsubcompactcar.Thesearethetraditionalgassaversintheconsumermindsandtendtofluctuatewithgasprices.

• Gaspriceshavebeenrelativelystable,whichhasloweredthepricesonusedhybridcars.• The2011MitsubishiOutlanderSport,acompactcrossover,hasreceivedanincreaseinterestshortlyafterinformationwasreleasedontheredesigned

2014Outlander.

-66.2%

-56.3%

-24.1%

-23.7%

-23.3%

-21.6%

-16.4%

-15.1%

-8.6%

-7.0%

7.5%

7.6%

8.2%

13.0%

15.4%

17.2%

17.7%

25.2%

28.4%

32.5%

-200% -100% 0% 100% 200%

2009 VOLKSWAGEN GLI

2008 VOLVO V70

2010 NISSAN TITAN

2008 NISSAN QUEST

2011 MITSUBISHI ENDEAVOR

2009 FORD TAURUS

2011 MERCEDES-BENZ C-CLASS

2007 CHEVROLET AVALANCHE

2008 CHEVROLET SILVERADO 1500

2007 CHEVROLET SILVERADO 1500

2010 NISSAN ALTIMA

2011 TOYOTA CAMRY

2010 TOYOTA PRIUS

2008 TOYOTA CAMRY

2010 TOYOTA RAV4

2010 INFINITI G

2008 NISSAN SENTRA

2008 PORSCHE 911

2007 SAAB 9-3

2011 MITSUBISHI OUTLANDER SPORT

% Change in Share Month-Over-Month

Monthly Used-Car Shopping Activity Growth Top/Bottom 10 Models

Information based on 2011 to 2007 Model-Year Vehicles

-5.1% -4.1%

-3.1%

-2.7%

-2.1%

-1.9%

-1.7%

-1.3%

-1.1%

-1.0%

-0.7%

-0.6%

-0.2%

0.1%

0.5%

1.0%

1.8%

1.8%

2.0%

2.0%

2.7%

2.9%

4.1%

-20% -10% 0% 10% 20%

Premium Luxury Car

Full -Size Pickup Truck

Full -Size Car

Full -Size Sport Utility

Mid -Size Pickup Truck

Full -Size Crossover

Sports Car

Van

Mid -Size Sport Utility

Luxury Car

Mid -Size Crossover

Luxury Sport Utility

Compact Luxury Car

Minivan

Entry Luxury Car

Mid -Size Car

High Performance

Compact Car

Premium Sports Car

Luxury Crossover

Subcompact Car

Compact Crossover

Hybrid Car

% Change in Share Month-Over-Month

Monthly Used-Car Shopping Activity Growth Segments

Information based on 2011 to 2007 Model-Year Vehicles

About Kelley Blue Book (www.kbb.com)

Foundedin1926,KelleyBlueBook,TheTrustedResource®,istheonlyvehiclevaluationandinformationsourcetrustedandrelieduponbybothconsumersandtheindustry.Eachweekthecompanyprovidesthemostmarket-reflectivevaluesintheindustryonitstop-ratedwebsitewww.kbb.com,includingitsfamousBlueBook®Trade-InandSuggestedRetailValuesandFairPurchasePrice,whichreportswhatothersarepayingfornewcarsthisweek.Thecompanyalsoprovidesvehiclepricingandvaluesthroughvariousproductsandservicesavailabletocardealers,automanufacturers,financeandinsurancecompaniesaswellasgovernmentalagencies.KBB.comprovidesconsumerpricingandinformationoncarsforsale,minivans,pickuptrucks,sedan,hybrids,electriccars,andSUVs.KelleyBlueBookCo.,Inc.isawhollyownedsubsidiaryofAutoTraderGroup.