News
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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Used truck prices are holding steady, with supply still dictating pricing. That’s the word from J.D. Power’s Commercial Truck Guidelines for March, which notes that February is the first month in any new year with a high enough volume of used truck auctions to allow analysts to identify market trends.
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Even with the decline in February, however, overall late-model volume in the month was still 5.8% higher than in February 2017 due to volume growth in previous months.
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Wholesale used vehicle prices were flat in February, halting three months of declines, according to Manheim’s Used Vehicle Value Index.
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The average price of two- to seven-year-old vehicles depreciated less sharply than expected in February due to "a spirited start to the spring selling season" that has boosted prices for used passenger cars, according to Black Book.
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For the sixth week in a row, the car segment has realized lower depreciation than the truck segment, according to Black Book’s March 12 Market Insights report.
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Depreciation can account for a large portion of a vehicle’s lifecycle costs. While there is no escaping from the fact that vehicles are depreciating assets, there are ways to control and minimize the depreciation costs you incur.
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Weekly depreciation reached the lowest point seen all year this past week as smaller, lower-priced, vehicles continue to keep wholesale values strong.
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The Volkswagen Group, General Motors, and Toyota Motor Company are three of the OEMs that experienced the highest rise in average transaction price. Respectively, the three OEMs saw average transaction prices rise 7.1%, 3.5%, and 3.4%.
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Vehicle depreciation rates were at the lowest levels seen all year last week, as the effects of the spring market demand begin to kick in, according to Black Book’s Feb. 26 Market Insights report.
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Wholesale used vehicle prices for vehicles from fleet or lease consignors increased 4.1% in January from the prior month, but fell 0.3% from the same month a year ago, according to the latest Kontos Kommentary.
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