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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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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The car segment saw the highest declines of the year during the last week of 2017, according to Black Book’s Jan. 1 Market Insights report.
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Typical seasonal highs and lows were disrupted this year due to a run of natural disasters destroying hundreds of thousands of vehicles and causing a surge in replacement activity. Overall fleet depreciation improved this year.
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With the number of off-lease vehicles coming into the used car market projected to grow in the coming years, it might be the time for used car leasing to make a return, which would boost demand and price at wholesale for several used car segments, according to Swapalease.com.
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