Used-car prices likely to rise 2%
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Used-vehicle prices will rise on average about 2 percent byyear end, with prices peaking in April, Jonathan Banks, executive automotive analyst at NADA Used Car Guide, predicts. That's on top of a 3 percent average increase in 2011, he says.
"We think the used market is going to be very strong in the third and fourth quarter," Banks said. "We'll hit that trough in used supply and we also expect demand and consumer confidence to slowly increase during the course of the year."
