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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Wholesale values declined 0.3% for model years 2016-2017 and 0.2% for model years 2008-2015 in December.
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U.S. new-car dealers sold 17.33 million cars and light trucks in 2018, exceeding expectations due to a 2.2% year-over-year improvement in December.
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Black Book’s Used Vehicle Retention Index finished 2018 1.9% higher than in the same time in 2017.
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The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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The average transaction price for a new vehicle in the U.S. was $37,577 in December 2018, a 1.3% increase from the same time in 2017.
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All vehicle segments, except for large utility vehicles experienced a decline in auction volume through the month, the report added.
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Overall, wholesale car segments values decreased 0.86% last week, compared to 0.72% the week before.
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Overall average wholesale prices softened in November from a year ago mostly due to 2017 prices that were elevated due to increased demand from hurricanes Harvey and Irma, even though values of former fleet vehicles increased, according to Tom Kontos, KAR Auction Services' chief economist.
Read More →The average 12-month depreciation through the end of November for all vehicles was 12.5%.
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As the year comes to a close, used sedan values are continuing to decline from the abnormally high levels that the segment saw through most of 2018.
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