Full-Size Truck Resale Values Up Almost 7 Percent
Increase Attributed to Strong Housing Market, Tight Supply
Resale values on 3-year-old full-size trucks are leading the overall industry with year-over-year auction price average gains of as much as 8 percent, and an overall segment average gain of nearly 7 percent, according to the National Dealer Association's May edition of Guidelines. This news comes even as trade-in values on some of the most popular passenger car models has dropped an average of almost 10 percent, including the Chevrolet Malibu, Honda Accord, and Nissan Altima.
The strength in the used full-size truck market is attributed to an increase in new home construction and a decline in supply in the used full-size market. NADA noted that the supply of full-size trucks up to 8 years old declined by a dramatic 17 percent between 2007 through 2012, some of that loss possibly attributable to the government's Cash for Clunkers program. But NADA predicts the market will tighten an additional 8 percent in 2013.
The benchmark Chevrolet Silverado 1500 LT Crew Cab with the 5.3-liter V-8 had a gain in the average trade-in value of $1460 from May 2012 to May 2013, a gain of 8 percent, for an average trade-in value of $20,540. The next-highest gainer in trade-in value was the Ram 1500 Crew Cab SLT with the 4.7-liter V-8, with a 5-percent gain.
Perhaps the most surprising detail of the report is which pickup models they expect will be in the highest demand. Due to the continued strength in the housing market, two-wheel-drive, regular-cab, V-6 trucks, frequently purchased and used by workers in the construction trades, are expected to remain a hot commodity.
|Make||Model||Config- uration||May 2012 Trade Value||May 2013 Trade Value||$ Change||Percent Change|
|Chevrolet||Silverado 1500||Crew Cab LT 5.3 V-8||$19,080||$20,540||$1,460||8%|
|Chevrolet||Silverado 2500||Crew Cab LT 4WD Diesel||$32,130||$33,225||$1,095||3%|
|Ram||1500||Crew Cab SLT 4.7 V-8||$17,462||$18,295||$833||5%|
|Ram||2500||Mega Cab SLT Diesel||$28,162||$28,620||$458||2%|
|Ford||F-150||Crew Cab XLT 2WD 4.6 V-8||$18,752||$19,155||$403||2%|
|Ford||F-150||Crew Cab XLT 4WD 4.6 V-8||$22,252||$22,555||$303||1%|
|Toyota||Tundra||Crew Cab SR5 5.7 V-8||$21,300||$21,902||$602||3%|