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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Overall, average wholesale car segment values declined 0.76% last week, compared to 0.63% the week before. Overall, truck segment values declined 0.48%, compared to 0.39% the week before.
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Kelley Blue Book named Toyota as the winner of its 2018 Best Resale Value Award for the overall brand category, marking the third time that the company has received the award. For the luxury brand category, KBB named Porsche its winner.
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Wholesale vehicles averaged a 12-month depreciation of 13.2% in 2017, compared to a 12-month depreciation of 17.3% in 2016, according to Black Book.
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After leading depreciation in the first week of January, truck segment values saw a small recovery last week, while car segment values continued to decline at a similar pace, according to Black Book’s Jan. 15 Market Insights report.
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Among the top 10 fastest-selling used cars in 2017, six were alternative fuel, while four were gasoline engine vehicles.
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Manheim’s used vehicle value index — which tracks how wholesale used vehicle prices change month-to-month — for December came in at 132, 1.91% month-over-month decrease and an increase of 5.6% year-over-year.
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In a reversal from the past several weeks, truck depreciation outpaced car depreciation during the first week of the New Year, according to Black Book’s Jan. 8 Market Insights report.
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An index that tracks wholesale used vehicle values fell in December for the first time in four months at a time when the used vehicle market typically shows some weakness. It also reinforced 2017 as a growth year for used vehicle sales.
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The auto industry sold 17.2 million new vehicles in 2017, 1.8% less than in 2016, breaking a seven-year streak of year-over-year sales growth, according to data from Motor Intelligence.
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The average transaction price for a new vehicle reached $36,113 in December in the U.S., a 1.6% increase from the same time last year and a 0.2% increase from the previous month, according to Kelley Blue Book.
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