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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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The Ram 3500 earned the best resale value award for the heavy-duty pickup segment. The Ram 3500 was also the overall winner for best resale value in 2018.
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Overall, cars segment values decreased by 0.11%, compared to 0.2% the week before. In the truck segment, overall values decreased 0.1%, compared to 0.15% the week before.
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Overall, car segment values decreased by 0.2%, compared to 0.22% depreciation the segment experienced the week before. Overall, truck segment values decreased by 0.15%, equal to the deprecation the segment experienced the week before.
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Used vehicle sales continued their strong performance in the wholesale market in July, as an "abnormal bounce" that began in June continued to show strength with overall values increasing in July 1.51% from the prior month, according to Manheim.
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The first half of 2018 has been a strong year for used vehicle values, and growth in upstream remarketing is playing a helpful role.
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A strong showing from the subcompact car segment drove up used vehicle values in July, bumping up the Black Book Used Vehicle Retention Index 0.5% to 113.9.
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Overall, car segment values decreased 0.22% last week, compared to 0.09% the week before. Overall, truck segment values decreased 0.15%, compared to 0.19% the week prior.
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Depreciation rates fell to two-month lows for both cars and trucks last week, propelled by strong performances from vans, pickups, and sporty cars.
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As an example of this analysis, Black Book data shows that the Toyota FJ Cruiser, whose last model-year was 2014, has actually gone up in value by 25.7% compared to other vehicles that were listed in its segment.
Read More →Auction volume was down 2.3% year-over-year for units up to five years old, and on a month-over-month basis, volume was down 16.3%, according to J.D. Power’s July Used Car and Light Truck Guidelines.
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