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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Utility vehicles and pickups played a large part in driving up the average transaction price for a new vehicle to $35,635 in May, a 3.4% increase over the same time last year, according to Kelley Blue Book.
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Subcompact cars, compact cars, mid-size cars, and full-size cars all saw their wholesale values increase through the period between Feb. 1 and May 1. Respectively, these segments’ wholesale value rose by 2.6%, 5.3%, 3.1%, and 1%.
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Fiat Chrysler Automobiles unveiled a wide-ranging plan to electrify 30 of its models by 2022 and launch several new vehicles, including a midsize pickup and three-row Jeep SUV, as the company enters a new phase of financial health.
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The sporty car segment had a second strong week in a row, performing the best among all tracked vehicles. Through the week, sporty cars saw their values rise 0.27% compared to the week before.
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Used vehicle sales decreased 2% year-over-year in April, in large part due to two fewer selling days compared to the year before, noted Cox Automotive in its May 2018 Industry Update.
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Overall, car segment values decreased 0.27% last week, compared to 0.08% the week before. Overall truck segment values decreased 0.05% last week, compared to 0.08% the week before.
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Used-vehicle sales will rise and new-vehicle sales will fall in 2018, while total sales will reach 56.2 million, which would represent a second year of declines for the automotive industry, according to a Cox Automotive forecast.
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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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