Wholesale prices for used vehicles up to 8 years old fell 1.7% month-over-month in May, a level that’s typical for this time of year, according to J.D. Power’s June Used Car and Light Truck Guidelines. Auction volume up 12% month-over-month, 2.6% year-over-year.
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Wholesale vehicle values continued to dip last week, realizing the biggest declines of the past four months, according to Black Book’s June 18 Market Insights report.
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Used vehicle prices reached $19,657, which represented a 2.2% year-over-year increase, the report noted.
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Wholesale depreciation inched upward last week, as mid-size cars and luxury vehicles continue to see their prices at auction fall, according to Black Book’s June 11 Market Insights report.
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Depreciation for both cars and trucks were at higher levels than what’s been observed in the last few weeks, in large part due to the weak performance of luxury vehicles.
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Subcompact cars, compact cars, mid-size cars, and full-size cars all saw their wholesale values increase through the period between Feb. 1 and May 1. Respectively, these segments’ wholesale value rose by 2.6%, 5.3%, 3.1%, and 1%.
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The sporty car segment had a second strong week in a row, performing the best among all tracked vehicles. Through the week, sporty cars saw their values rise 0.27% compared to the week before.
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Overall, car segment values decreased 0.27% last week, compared to 0.08% the week before. Overall truck segment values decreased 0.05% last week, compared to 0.08% the week before.
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Average wholesale car segment values were down last week, breaking a two month streak of rising car values, according to Black Book’s May 14 Market Insights report.
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Hertz Global Holdings’ monthly net per unit vehicle depreciation expense decreased 13% to $302 for its U.S. operations, during its first quarter of 2018.
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