Second Monthly IncreaseHagerty Market Rating
- July 4, 2017
- Posted by CCW
The Hagerty Market Rating experienced its second month-over-month increase of the year for June, growing a fifth of a point to 66.64.
Afer a large drop last month, auction activity continued the gradual increase it has experienced this year after a 1% uptick in the number of cars sold. The most visible increase has been in the number of cars sold that were built in the last 20 years. The private market also showed strength with a slight increase in the average sale price over last month.
Market observers, encouraged by the numbers from the auction and private markets, expressed more confidence than they did for last month.
Despite the above increases, the number of owners expressing the belief that the values of their vehicles are rising has continued to fall. For both the owners of mainstream vehicles and the owners of high-end vehicles, the number is at its lowest point in several years.
May’s reported rating was revised from 66.37 to 66.44 due to newly released inflation numbers.
Report by hagerty.com