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Despite increased demand at auction from dealers in the Northeast, used-car values have declined steadily after a slight increase immediately following Hurricane Sandy.
During the weeks following the storm, Kelley Blue Book saw a modest bump in used-car values at auction as dealers, still uncertain as to the total extent of the damage, sought vehicles to accommodate an expected uptick in demand. After the initial uptick, values have moderated, and today, values are generally following a normal seasonal depreciation pattern.
While values declined by 0.8 percent overall last month, movement at the segment level was mixed, Kelley reports.
Luxury and subcompact cars led market declines, while full-size trucks and SUVs outperformed the market. Soft values for luxury vehicles are typical at this time of year, as luxury automakers focus on the new model-year changeover by offering generous incentives on their previous model-year inventory.