Used Toyota Tundra Price Increases – Holds Value Better Than Others
The used truck market is HOT right now! How hot? The Toyota Tundra and other pickups have seen their used truck prices rise. Which one is holding its value the best? You guessed it, it’s the Tundra.A story on Autonews.com proclaims that the demand for used trucks is so high that prices will stay higher than before the recession after stablizing. In fact, the prices of used pickups less than 9 years old have increased by 7 percent through April according to Larry Dixon, an analyst at NADA guides.
Dixon told Automotive News:
“We expect large pickups to be one of the better-performing segments for the year,” Dixon says. “They’ve got a couple of things going for them. Used supply is still fairly low relative to where we were just a few years ago [as a result] of reductions in production and retail sales going back to high gasoline prices in 2008.
“You also have the growth and improvement in the housing market.”
Most analysts agree that used-vehicle prices peaked in March and the market will start to stablizie soon. However, the car market is expected to recede much faster than the truck market. This is due to seasonal deprecation patterns and rising/falling of gasoline prices.
Further demonstrating their point, Automotive News created the chart below using NADA numbers.
Tundra owners have known for years that the truck has a high resale value and charts and stories like these reinforce that fact. The truth is that while the Tundra doesn’t have the bells and whistles of the competitors (active grille shutters, lighter weight frames, etc…) it is simply one durable and dependable truck. This is great for owners who are looking to have a vehicle that runs for a long time.
Most analysts and industry experts continue to believe that used truck residual values will remain high. With the new cars exceedingly full of plastic and less durable than past versions, trucks keep on running for years.
What do you think? Are you surprised by these numbers?
Filed Under: Tundra News