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Should SUV shoppers buy a new 2023 Subaru Crosstrek, Forester, Outback, and other models, or buy a lightly used three or four-year-old model? A new report from Kelley Blue Book says that used car prices are finally falling now that new car supply supplies are increasing. The demand for used vehicles drops now that car shoppers have more new models to choose from.
But it's not the case with the top-selling Subaru models like the Crosstrek, Forester, and Outback. Lightly used three-to-four-year-old Subaru SUVs will stay high because hot models like the Crosstrek have the highest retained value of any subcompact SUV. Torque News reported this week that Canadian Black Book (CBB) says the Crosstrek won the best-retained value award in the Subcompact SUV category for the second consecutive year.
CBB reveals the Crosstrek will retain the highest percentage of its original MSRP, more than and subcompact SUV after four years. That's good for customers trading in their Crosstrek but not good if you buy a lightly used subcompact SUV.
A used Forester pricing will also stay high. In the best-retained value Compact SUV category, the Subaru Forester finishes second behind the Toyota RAV4 and ahead of the Honda CR-V, which finished third. And Subaru places third in the Overall Car Brand category for retained value behind Toyota and Dodge.
More resale value awards for Subaru
In Kelley Blue Book's most recent Best Resale Value SUV awards, the Subaru Crosstrek, Forester, and Outback received recognition in the Subcompact SUV, Compact SUV, and Two-Row Midsize SUV categories. KBB says these vehicles retain value better than all other models in their category.
In a new report this week, Kelley Blue Book says Subaru, Toyota, Lexus, and Mazda dealers had the lowest amount of used vehicles at 50 or fewer days' supply. The lowest supply means dealers can charge more for the Crosstrek, Forester, and Outback because fewer low-mileage models are available.
Another factor for new car shoppers is Subaru still has the lowest supply of new cars of any car brand in America. An updated report from Automotive News (by subscription) reveals on January 1, 2023, Subaru of America's new model supply stands at eight days. It dropped from December 1, 2022, when they had a nine-day supply.
Because Subaru of America's new car supply is the lowest of any automaker, and the used Subaru inventory is also low, a lightly used, low mileage, three to four-year-old Crosstrek, Forester, or Outback prices will remain high.
What about the Subaru Ascent 3-Row midsize SUV, Impreza compact car, and Legacy midsize sedan models? These all-wheel-drive models are not affected as much by used car prices as Subaru of America's three top-selling SUVs. Their resale values are lower, but the pricing of the lowest mileage used three to four-year-old models will still be increased because few new models are sitting on retailers' lots.
It will be a better value for car shoppers to buy a new 2023 Crosstrek, Forester, or Outback if they can wait for the new model to arrive from the factory. Wait times should be dropping as the production of new models has increased.
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Denis Flierl has invested over 30 years in the automotive industry in a consulting role working with every major car brand. He is an accredited member of the Rocky Mountain Automotive Press. Check out Subaru Report, where he covers all of the Japanese automaker's models. More stories can be found on the Torque News Subaru page. Follow Denis on Facebook, Twitter, and Instagram.
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