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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The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
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Wholesale vehicle depreciation continued to accelerate last week, a trend that is expected to continue for the next few weeks, as seasonal patterns take hold, according to Black Book's July 8 Market Insights report.
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Black Book's latest Used Vehicle Retention Index for June (115) shows a 0.6% increase from May (114.4), which reflects an incremental improvement in used vehicle values.
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The average transaction price for a light vehicle in the U.S. in June was $37,285.
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Lower depreciation among luxury cars helped decelerate overall car segment depreciation, while truck segment depreciation remained stable.
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The average age of light vehicles in operation in the U.S. has risen again this year to 11.8 years, according to new research from IHS Markit.
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Car values continued to weaken and truck values strengthened last week, as the summer months approach.
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Overall car segment values decreased 0.36% last week, compared to 0.31% the week prior. Overall truck segment values decreased 0.16%, compared to 0.08% last week.
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The Used Retention Index for May was 114.4, which represented a 0.7% increase from the month before. This was the first increase of 2019.
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Spring has come to an end, with cars declining in values greater than trucks.
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