Despite an expected 8.5% year-over-year decline in August volume, Cox Automotive forecasts a 16.3 million SAAR, with full-size pickups outperforming several major crossover segments.
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The two months of falling vehicle values may be an indicator of what depreciation might look like in 2019.
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Depreciation for cars grew slightly last week, but overall values are continuing to stabilize, according to Black Book's Feb. 4 Market Insights report.
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Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.42% last week. In comparison, the market values decreased by 0.58% on average during the prior four-week period.
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The awards measure the cost-of-ownership of a vehicle using eight different cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
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After several weeks of rising depreciation, vehicle values stabilized last week.
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For the third year in a row — and fourth overall — Toyota has earned Kelley Blue Book's overall Best Resale Value Award for mainstream brand.
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Overall car segment values declined 0.71% last week, compared to 0.74% the week before.The highest depreciation within the car segment came from subcompact cars, midsize cars, and near luxury cars.
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Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
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Used vehicle values continued to decline at the start of the new year, pushing sales rates at auction up, but moving prices down.
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Vehicle manufacturers will sell 17 million new vehicles in 2019, which would represent only a 1.3% decline from a year that recorded a third consecutive year of more than 17 million new vehicles sold, according to Oliver Strauss, chief economist for TrueCar’s ALG.
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