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 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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Wholesale values saw a heavy decline last week, with sporty cars, minivans, and small pickups leading weekly depreciation.
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Six pickup trucks made the top-10 list of vehicles that retain the highest percentage of their value after a five-year ownership period, along with two Jeeps, a Subaru, and the Toyota 4Runner. At the other end of the spectrum, the Nissan Leaf saw the highest depreciation over the same period.
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While luxury vehicles continue to struggle, overall vehicle values held steady last week, according to Black Book’s Oct. 8 Market Insights report.
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