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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In the month preceding the start of the Spring season, trucks continued to show the resilience they've shown in past months. A few key segments showed particular strength and luxury vehicles continued to struggle.
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Overall depreciation was lower last week and midsize car values, in particular, saw a noticeable lift.
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The average sale price for used vehicles from fleet leasing consignors continued to outpace vehicles cosigned to auction by manufacturers and dealers in February, according to Tom Kontos, KAR's chief economist.
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Luxury car and truck values fell last week, as demand continues to climb for more affordable vehicles, according to Black Book's March 11 Market Insights report.
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Analysts say a late start to the spring selling season could be to blame for a third consecutive monthly decline in Black Book’s Used Vehicle Retention Index.
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Overall car segment values decreased by 0.42% last week, compared to 0.43% the week before. Overall truck segment values decreased 0.38% last week, compared to 0.40% the week prior.
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A steady supply, thriving shipping market, and increased demand helped stabilize wholesale values going into 2019.
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Wholesale luxury car and compact van values declined during a week where overall depreciation remained fairly stable.
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Bidding was strong ahead of presidents day, which helped truck and car used values improve slightly last week.
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The average sale price for used vehicles from fleet leasing consignors increased 1.9% to $12,706 in January from the prior month and 3.9% from January of 2018, according to Tom Kontos, KAR's chief economist.
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