Gold prices reached a new high in March, and the Euro has been strengthening against the dollar since the middle of last year. It seems appropriate then to provide another update to our charts that measure wholesale used vehicle prices in terms of gold and the euro. And, since a coordinated G-7 currency intervention was needed to stem a further rise in the yen in the immediate aftermath of the quake and tsunami, we added a third chart that looks at wholesale prices measured in yen.
In gold: wholesale used vehicle prices have fallen for more than decade and, in March, reached a new low.
In yen: wholesale prices have generally trended down since June 2007 and now are at their lowest level ever, save the collapse in the wholesale market post-Lehman (which temporarily drove up the value of the dollar).