Monday, Oct. 15, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
WESTLAKE VILLAGE, Calif. — The percent of consumers upside-down on their trades has continued to decline, according to recent analysis released from Power Information Network.
"From the third quarter of 2005 to the same period of this year, this measure has dropped more than 3 percentage points to 27.4 percent," officials explained.
"In comparison, in the fourth quarter of 2004, 35.13 percent of all trades were upside-down," executives continued. "This decline has occurred to about the same degree in both the luxury and non-luxury categories."
More specifically, looking at this trend by automaker, PIN found that seven of the 37 brands have seen a decline in negative equity of more than 20 percent since 2005.
"These include three domestic brands (each of which has recently enjoyed one or more successful new products), three Asian nameplates and one European brand.
Breaking it down further, PIN reported that from 2005 to 2007:
—All nameplates are down 10.6 percent.
—Total luxury upside-down trades are down 9.6 percent.
—All non-luxury trades are down 10.5 percent.
Nameplates showing a decline of more than 20 percent for trades in which the loan payoff was greater than the market value of the trade include:
—Buick, down 35.1 percent.
—Saturn, down 27.5 percent.
—Lincoln, down 25.5 percent.
—Acura, down 23.1 percent.
—Isuzu, down 23 percent.
—Mini, down 21.3 percent.
—Hyundai, down 20.1 percent.