Overall used vehicle values were strong in September, and five key segments played a key role in that strength, according to Black Book’s monthly Used Vehicle Retention Index.
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Overall car segment values declined 0.25% last week, compared to 0.2% the week prior. These two weeks of accelerated depreciation follow more than two months of strong car segment values.
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Retail customers may be moving away from luxury vehicles and toward trucks and SUVs for their leases, according an analysis from Swapalease.com.
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Insurance Auto Auctions (IAA) is expanding the launch of its new towing app to aid towing and hauling contractors transporting vehicles impacted by Hurricane Florence and the resulting flooding.
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Edmunds is forecasting 1,392,434 new vehicles sales through September, representing a 5.4% decline from March and an 8.3% decline from the same time last year.
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TradeRev has expanded its dealer-to-dealer digital auction platform services into five new markets across the United States.
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Several ServNet auctions consigned roughly 8,000 vehicles during special events at a number of locations this summer, and the organization has plans to host more events in the coming months.
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Wholesale values for the entire sedan segment dropped after appreciating for the previous three weeks.
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Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
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The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
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