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Used Car Values “Leasing represents about one third of the Lease returns rose an estimated 33 percent
Decline, Trucks Still in new-vehicle market and has been increas- in 2016 vs. 2015, and the mix of off-lease
ing, which results in more lease maturities units has switched from 60-40 percent cars
High Demand coming back,” Banks said. Many off-lease vs. trucks, to 40-60 percent, cars vs. trucks.
vehicles are resold as certified pre-owned,
which means they are inspected and re- Kontos has reported that the average used
A LONG-AWAITED buyers’ market for
late-model used cars looks like it may finally conditioned before being resold, and come vehicle sold for $10,499 in October, was
start to materialize next year, something an- with a warranty. down 1.2 percent in October 2016, while
alysts have been predicting for years, based used truck values gained 5.1 percent in the
largely on the ongoing growth in leasing. As leasing increases, the supply of three- same period.
year-old used cars and trucks rises, and that
period has begun to arrive. Tom Kontos, ex- Sourced From: Forbes.com, Nov. 29, 2016, By Jim
Jonathan Banks, vice president of vehicle Henry, Contributor
analysis and analytics for J.D. Power, told ecutive vice president and chief economist View the article here: https://goo.gl/8t9eYu n
a press briefing at the recent Los Angeles at ADESA Analytical Services, is on record
Auto Show, that there will be a large in- as stating that the rise of the used vehicle
crease in used vehicle supply. inventory returning to the marketplace will
continue to rise for several years ahead.

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GIADA Independent Auto Dealer FEBRUARY 2017 | 59