Used-car values of recalled Toyota vehicles continue to slide
By Andrew C., 26 Aug, 2010. 0 Comments
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Used-car values of recalled Toyota vehicles will be lowered by 1.5% on Feb. 12, according to Kelley Blue Book. Just last Feb. 5, Kelley lowered the prices of these vehicles by 1% to 3%. Kelley, which makes weekly adjustments to the used-vehicle price guidebook, responded to the mounting supply of unsold Toyotas on dealer lots and at auctions. Toyota Motor Sales USA. Inc. ordered the suspension of the sales of these cars included in the recall. Juan Flores, director of vehicle valuation at Kelley, said that they're able to project these lowered values because the market is currently moving away from Toyota cars. Flores added that in the next weeks, there will be more data on market trends and shifts in demand that will provide "greater insight" on how they will assess these values in the future.
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