Used Car News

AutoTrader.com reported that the used-car market continued to hold steady, as both demand and average asking prices climbed steadily throughout February. Demand for pick-up trucks and SUVs, most likely driven partially by the weather in February, was especially strong.

The biggest gainers in views were all among heavy-duty 2500-series pick-ups, including the Ford F-250, up 29 percent compared to February 2009, the Chevrolet Silverado 2500, up almost 28 percent from last February, and the Dodge Ram 2500, up 25 percent from last February.

Average asking prices were similarly up for these vehicles, with increases running between 14 percent for the F-250 to 16 percent for the Ram.

Shopping for certified pre-owned vehicles was also down due to the same concerns around weather, as well as depleted inventories for these vehicles due to reduced leasing and general slowness in new vehicle sales over the past several years.

Still, pricing for CPO vehicles generally rose during February, with trucks and SUVs again leading the way.
The Chevrolet Silverado saw average asking prices increase of almost 17 percent compared to February 2009 for Certified models, while the Honda Pilot crossover saw an increase in average asking prices of 17 percent compared to last February.