Overall, car segment values decreased 0.34% last week, compared to 0.30% the week before. Truck segment values decreased 0.25% last week, the same decline the segment experienced the week before.
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Toyota Financial Services USA has named Vipin Gupta as its new chief information officer and group vice president, the company has announced.
Read More →The escalating trade disputes between the U.S. and Europe may have an adverse effect on the used car market.
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Although new-vehicle sales are expected to contract in the coming months, the average price for those vehicles is expected to rise, thanks in part to the continued shift in demand toward larger vehicles.
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The strongest segments through June were subcompact and sporty sedans. These segments both saw their values increase by over 1% through the month, at 1.4% and 1.2%, respectively.
Read More →Auto loan interest rates in June likely reached their highest level in nine years, Edmunds reported, a week after saying a strong economy is likely masking market factors bubbling just below the service that could start to slow down sales.
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Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.
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Wholesale vehicle prices for former fleet vehicles at auction increased 0.8% in May from April and have increased 6.8% from a year ago in a "seasonally strong" market, according to Tom Kontos, KAR Auction Services' chief economist.
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New vehicle retail sales increased 5% year-over-year in May, however, the amount of people reporting that they’ll buy a new vehicle in the second half of 2018 is on the decline, according to Cox Automotive’s June 2018 Industry Update.
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Consumer are on pace to spend $38.9 billion on new vehicles in June, which is $1.8 billion more than last year’s level. The increase should more than offset the 0.6% decrease in new-vehicle sales for the month, which are expected to total 1.2 million units.
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