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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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Average wholesale car segment values were down last week, breaking a two month streak of rising car values, according to Black Book’s May 14 Market Insights report.
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Prices for vehicles from fleet lease consignors increased 6.6% in March and are 4.9% higher than a year ago driven in part by a strong spring selling season that boosted the values significantly from February levels, according to KAR Auction Services.
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Used compact and midsize passenger cars held their value better than pickups and cargo vans in April, and overall vehicle depreciation eased due to a strong spring selling season, according to Black Book.
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Car values were up for the second month in a row last week, however, the segment's wholesale values show signs of leveling off, according to Black Book’s May 7 Market Insights report.
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Manufacturers may choose to absorb higher federal interest rates on new vehicles to keep prices from rising higher than they have been with heavier incentives, but this could have an adverse effect on residual values.
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The Jeep Wrangler Unlimited retained the highest percentage of its value after the first year of ownership, according to analysis conducted by ISeeCars.com, a consumer shopping portal for used cars.
Read More →The numbers reveal a number of factories, including Ford, are targeting compact and midsize inventory. Ford offered the most generous discounts on vehicles in those segments.
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The average transaction price of a new car in April was $35,411, a 2% increase year-over-year, according to a Kelley Blue Book report.
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Car values continued to rise last week, marking the seventh week of rising car values, driven in part by the performance of sporty and mid-size cars, according to Black Book’s April 30 Market Insights report.
Read More →Black Book's Used Vehicle Retention Index for April remained unchanged from the previous month at 112 and has declined by a mere 1% over the last 12 months, the company announced.
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