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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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Ford and Toyota had the most models named as having the best certified pre-owned value among 37 segments by Vincentric, the vehicle valuation firm announced.
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Full-size cars and SUVs depreciated the most in the past week, as vehicle usage and demand has fallen in recent weeks even in the face of lower gasoline prices, according to Black Book's Nov. 13 Market Insights report.
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Used vehicle prices reached $20,084 in the third quarter of 2018, representing a 3.5% year-over-year increase, and the highest price since 2005.
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Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
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Seasonal depreciation patterns are expected to take hold through the rest of the year, with vehicle values declining on a wider scale.
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Peterbilt announced a new warranty option for Red Oval Certified Pre-Owned truck customers.
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This heavy depreciation was in large part driven by rising no-sales at several auto auctions.
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The pricing for medium-duty trucks at auction was down for the second month in a row in September, according to J.D. Power’s October Commercial Truck Guidelines Industry Update.
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Overall, car segment values were down 0.44% last week, compared to a 0.54% decline the week prior. Truck segment values were down 0.39% last week, compared to 0.37% the week prior.
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Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.
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