The average sale price for a 3-year-old used vehicle was $14,951 less than its new equivalent in the third quarter of 2019.
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Through the partnership, more than 5,000 car dealers will gain the ability to list vehicles for sale, rent, or rent-to-own to ride share drivers who download the DriveItAway app.
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Overall car segment values decreased 1.04% last week, compared to 0.91% the week before. Overall truck segment values decreased 1.18% last week, compared to 0.88% the week before.
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This investment round brings Vroom’s total capital raised to $721 million.
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Used financing increased 2.4% year-over-year and reached 55.15% in the third quarter of 2019.
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The valuation analysts at Kelley Blue Book reported the estimated average transaction price for a light vehicle in the United States was $38,393 in November.
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The estimated seasonally adjusted annualized rate of U.S. new vehicle sales continues to hover around the 17 million-unit mark after several major manufacturers enjoyed year-over-year improvements in November.
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Several manufacturers offered attractive discounts and competitive pricing on compact cars and SUVs, while most luxury and full-size vehicle brands maintained their lease prices.
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The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values.
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Black Book found that gains among sporty cars (0.43%), compact cars (0.34%), and midsize cars (0.22%) kept retained values essentially flat compared with September (115.9), even as several truck categories showed losses.
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