News
Wholesale Used Vehicle Prices Slightly Up In April
The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
Read More →The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
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Overall car segment values decreased 1.04% last week, compared to 0.91% the week before. Overall truck segment values decreased 1.18% last week, compared to 0.88% the week before.
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The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values.
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Black Book found that gains among sporty cars (0.43%), compact cars (0.34%), and midsize cars (0.22%) kept retained values essentially flat compared with September (115.9), even as several truck categories showed losses.
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Wholesale values saw steep declines in both the car and truck segment last week, as the overall wholesale market continues to experience seasonal drops.
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Wholesale prices in October tempered down from the high levels reached in August, according to J.D. Power’s November 2019 Used Car and Light Truck Guidelines Industry Update.
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Overall truck segment values declined 0.83% last week, compared to 0.99% the week before.
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Honda received the company’s top spot for the mainstream brand category and Land Rover earned the stop for the luxury brand category.
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Vincentric has announced the winners of its 7th annual Best Certified Pre-Owned Value in America Awards and Ford, Subaru, and Lexus were some of the key winners.
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Wholesale values were way down last week, as various truck and car segment vehicles saw steep depreciation.
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The seasonally adjusted annualized rate of U.S. new vehicle sales could exceed 17 million units for the fifth straight year, a surprise for many, as forecasters predicted a slight drop off in 2019.
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