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									                                                        Contact:        Jeff Beddow

                    Quarterly NADA AuctionNet Summary:
          Used SUV and Pickup Truck Prices Continue Historic Decline
              in Second Quarter ’08; Passenger Car Values Climb

Major Market Shifts Driven by High Fuel Costs, Low Consumer Confidence

McLean, VA (July 23, 2008) -- The average wholesale price of used vehicles sold at
auctions declined for sport utility vehicles (SUVs), pickup trucks, crossover utility
vehicles (CUVs) and vans in the second quarter of 2008 from the first quarter of the
year, while used passenger car prices increased, according to NADA AuctionNet data
released by the NADA Used Car Guide -- the industry standard in used-vehicle valuation
products and data.
         The data reflects a continuing shift in demand by consumers and automobile
dealers to more fuel-efficient vehicles as gas prices climb and consumer confidence
         Used pickup truck and SUV prices led the declines, with wholesale prices falling
11.2 and 9.6 percent respectively on 1-to-5 year old vehicles. They were followed by
CUVs and vans, with values falling 3.8 and 3.0 percent respectively.
         Used passenger cars were the only segment showing price gains, up 3.5
percent, driven largely by strong demand in the compact and midsize segments.
         As a result, the $3,500 price premium that SUVs and pickup trucks have
historically held over passenger cars has diminished significantly. Pickup truck prices
have fallen to levels nearly equal to passenger cars, while the gap is closing between
SUVs and cars.
         The median age of SUVs for sale at auctions increased by more than a year to
42 months from 29 months in the April, May and June quarter compared to the first three
months of the year, indicating a continued migration out of this segment and more
consumers trading in older SUVs.
         "Fuel prices continue to be the dominant factor in resale values," said Terrence
W. Wynne, director of editorial and data services for the NADA Used Car Guide.

        "Within NADA sub segments, we estimate that for every $1 increase in gas, large
pickups decline in value by $2,200, on average,” he added. “By contrast, for
intermediate compact cars, a $1 increase in fuel costs lifts resale prices by an estimated
$980. These estimates do vary on younger and older vehicles."
        Wynne pointed out that the NADA Used Car Guide is responding by making
"fairly aggressive" devaluations of SUVs and pickup trucks through the end of this year.
"It is evident that this is a long-term depreciation trend as opposed to volatile, near-term
price behavior," he said.
        According to the AuctionNet data, average car and light truck quarterly pricing
trends were as follows:

                                      CAR        CUV        Pickup      SUV       VAN
         Q1 08 Average Price         $12,705    $16,434     $14,835   $15,846    $11,727
         Q2 08 Average Price**       $13,145    $15,814     $13,170   $14,322    $11,380

         Percent Change                 3.5%        -3.8%   -11.2%       -9.6%     -3.0%
        Source: AuctionNet Data
        ** Adjusted for Mileage and Model Mix

        AuctionNet® is an industry-unique wholesale auction database, available
exclusively from NADA Used Car Guide, in joint partnership with the National Auto
Auction Association (NAAA). Over 80 million records strong and updated weekly, it
captures sales from all Manheim, ADESA as well as participating ABC, ServNet and
large independent auctions, representing over 80% of nationwide auction activity.
        [Editor’s Note: To receive the chart in this release, please e-mail Jeff Beddow at]

About NADA Used Car Guide

        Over a 75-year history, NADA Used Car Guide has earned its reputation as the leading
provider of market-reflective vehicle valuation products, services and information to businesses
throughout the U.S. and worldwide. NADA’s editorial team collects and analyzes over one million
combined wholesale and retail automotive-related transaction prices per month. Its guidebooks,
auction data, analysis, and data solutions offer automotive, financial, insurance, and government
professionals the timely information and reliable solutions they need to make better business
decisions. For more information, visit
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