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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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.
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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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November’s Index registered at 116.5, a 0.2% gain from the previous month.
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The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
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One tactic that OEMs are leveraging in order to offset some of this growth is the use of incentives.
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Deprecation was low through most of 2018. Segments such as sedans performed better than they have in years past, while trucks and SUVs continue to retain their values well.
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Vehicle values were stable last week. Seasonal trends and lower demand have accelerated depreciation higher than where it’s been for most of the year, but this recent week represented an improvement over the market’s performance two weeks ago.
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ALG has named Subaru and Land Rover as the winners of its 2019 Residual Value Awards for the overall mainstream and premium brand categories, according to a company announcement.
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Prices for pre-owned sporty cars such as the Dodge Challenger fell by 3.3% in October, leading all segments in seasonal depreciation, according to the latest report from Black Book.
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