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The Redbook Insider: Used Vehicle Price Trends Update

The RedBook Used Vehicle Price Index has continued to recover in recent months, reaching 123% of pre-2020 levels. This lift has been driven by sustained consumer demand and strong sales volumes across much of the market.

Segment-specific insights

  • SUVs remain resilient: Mainstream, non-premium SUVs continue to hold value, with steady gains across most categories.
  • Premium segments underperform: Premium passenger and light commercial vehicles have recorded the sharpest year-on-year declines, with some upper large and luxury models down by 6–10% since June 2024. This reflects a market shift toward affordability and practicality.
  • Passenger vehicles lag behind: Broader passenger categories remain softer, showing less resilience than SUVs and light commercials.

Source: RedBook

Premium market pressures

The high end of the market is facing increasing headwinds. Elevated interest rates, cost-of-living pressures and a post-pandemic recalibration of buyer priorities are reducing demand for luxury models, while the mid-market continues to see stable or rising values.

At the same time, new entrants – particularly fast-growing Chinese brands – are reshaping consumer expectations around price and specification. Their aggressive positioning in SUVs and EVs is adding extra competitive pressure on traditional premium marques, contributing to softer demand and declining resale values in these segments.

What this could mean for your business:

  • Stocking decisions should account for divergent performance between mainstream and premium segments.
  • There are opportunities in premium passenger vehicles for price-sensitive buyers.
  • SUV demand remains a key driver of market stability.
  • Shifts in residual values could affect insurers total loss settlements and replacement costs – staying aligned with the latest valuations is critical.
  • More volatile values in premium segments may influence financiers risk assessments, loan-to-value ratios, and future portfolio performance.
  • A softening premium market may open opportunities for cost-effective fleet renewal, particularly with new competitive entrants impacting value retention.

RedBook will continue to provide the data and insights you need to navigate these evolving conditions with confidence.