The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
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Prices for pre-owned sporty cars such as the Dodge Challenger fell by 3.3% in October, leading all segments in seasonal depreciation, according to the latest report from Black Book.
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Overall, car segment values were down 0.44% last week, compared to a 0.54% decline the week prior. Truck segment values were down 0.39% last week, compared to 0.37% the week prior.
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Wholesale values saw a heavy decline last week, with sporty cars, minivans, and small pickups leading weekly depreciation.
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Segments such as compact cars and mid-size cars are outperforming the overall market. Meanwhile, vans, utility vehicles, and pickups are under performing the overall market.
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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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Overall values for car segments that Black Book tracks were up marginally on average, however, a majority of the individual segments reported lower values.
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ACV Auctions Inc. is on pace to sell over 100,000 vehicles by the end of 2018, after selling 8,600 vehicles in August, according to the company.
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Values for nearly all car segments that Black Book track were up; subcompacts were up 0.14%, compacts were up 0.33%, mid-size were up 0.06%, full-size were up 0.02%, sporty were up 0.34%, and premium sporty were up 0.11%.
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