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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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With the exception of luxury vehicles, most vehicle segments saw stable values last week.
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Sedan wholesale values are expected to improve as more SUVs and crossovers return to the used market. Meanwhile, SUV and crossover wholesale values are beginning to decline
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Overall wholesale values remained stable last week, however, luxury values continued to decline last week.
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Overall car segment values were down 0.08%, compared to a 0.08% increase the week before. Overall truck segment values were up 0.09%, compared to an increase of 0.05% the week before.
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Gains last week were minimal, remaining essentially flat from the week before, signaling an end to the price gains the market has experienced.
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Black Book's Used Vehicle Retention Index fell to 113.6 in April, a 0.2% decline from March. Despite the index now falling for five straight months, it is still 1.4% higher than the 112 registered a year ago.
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U.S. new-vehicle dealers sold 1,328,649 cars and light trucks in April, a 2.3% year-over-year decline and a full 3% loss to start the year compared with the first four months of 2018.
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Overall car segment values increased 0.12% last week, compared to 0.24% the week before. Overall truck segment values increased 0.06%, compared to 0.16% the week before.
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Retail sales will reach approximately 1,041,600 units, which represents a 5.3% decrease from the same time last year.
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Overall car segment values were up 0.24% last week, compared to 0.29% the week before. Overall truck segment values were up 0.16% last week, compared to 0.19% the week before.
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