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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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Toyota and Porsche led mainstream and luxury brands in Edmunds’ 2018 Best Retained Value awards. Collectively, the two brands earned eight of the 18 brand-level awards that Edmunds gives out each year.
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Many small car segments saw improvements to their average wholesale values through March, however, a dip in values among larger cars resulted in an overall decline to used vehicle values, according to Black Book data.
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The average transaction price for a new vehicle in March reached $35,285, 2% higher when compared to the same time last year, according to a Kelley Blue Book announcement.
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Three-year-old full-size vans retained the most value among trucks, vans, and SUVs in the wholesale used vehicle market, according to Tom Kontos, KAR Auction Services' chief economist.
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Average wholesale car values were up last week, representing the second consecutive week of growth for cars, according to Black Book’s April 2 Market Insights report.
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Fleet mainstays such as pickups and vans are expected to perform well at wholesale this year. Higher-end vehicles, such as those found in executive fleets are expected to struggle.
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Car segment values continued to thrive last week, as nearly all vehicles within the segment saw growing consumer demand, according to Black Book’s March 26 Market Insights report.
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This wave of off-lease vehicles is expected to be one of the biggest threats that the new-vehicle industry will face this year and the next. And, it won’t just be the sheer volume of relatively new, low-mileage vehicles that will pose a risk to the new-industry; it’ll be the types of off-lease vehicles returning to market that will present the biggest hurdle.
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The used-vehicle industry reached a record-breaking 39.2 million in sales in 2017, representing a 1.6% year-over-year increase, according to the latest Used Car Report from Edmunds.
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Overall, average wholes car values were essentially flat last week, down 0.01%, compared to 0.14% the week before. Had it not been for luxury vehicles the car segment would have seen a week-to-week rise in average wholesale values.
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