Low depreciation among sporty cars and small sedans and SUVs helped maintain weekly wholesale values at stable levels last week, according to Black Book’s Market Insights for July 16.
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Lease credit approvals on Swapalease’s marketplace took a small dip in June, falling to 68.4%, the company noted in an announcement.
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Wholesale prices had been on the decline since April 2018, however, a strong showing in June bucked that trend and moved current wholesale price performance ahead of last year.
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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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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.
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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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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.
Read More →Utility vehicles and pickups played a large part in driving up the average transaction price for a new vehicle to $35,635 in May, a 3.4% increase over the same time last year, according to Kelley Blue Book.
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