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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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Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.
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New vehicle retail sales increased 5% year-over-year in May, however, the amount of people reporting that they’ll buy a new vehicle in the second half of 2018 is on the decline, according to Cox Automotive’s June 2018 Industry Update.
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Consumer are on pace to spend $38.9 billion on new vehicles in June, which is $1.8 billion more than last year’s level. The increase should more than offset the 0.6% decrease in new-vehicle sales for the month, which are expected to total 1.2 million units.
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Sporty and luxury car depreciation improved last week, however, mid-size car depreciation offset the improvement experienced by those segments, according to Black Book’s June 25 Market Insights report.
Read More →New vehicles sales in May grew by 4.8% on a year-over-year basis in May, while average incentive spend increased for the 38th month in a row.
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Wholesale prices for used vehicles up to 8 years old fell 1.7% month-over-month in May, a level that’s typical for this time of year, according to J.D. Power’s June Used Car and Light Truck Guidelines. Auction volume up 12% month-over-month, 2.6% year-over-year.
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Wholesale vehicle values continued to dip last week, realizing the biggest declines of the past four months, according to Black Book’s June 18 Market Insights report.
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The Mercedes-Benz C-Class topped a list of the most recalled cars in recent model years, while the Hyundai Accent was the least-recalled vehicle during the same period, according to a report on ISeeCars.com.
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Used compact vans and several categories of crossovers increased in value in wholesale sales, while luxury vehicles made up seven of the 10 lowest performing categories among 2013-2017 vehicles in May, according to Black Book.
Read More →Used vehicle prices reached $19,657, which represented a 2.2% year-over-year increase, the report noted.
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