Used vehicle values are beginning to buckle as depreciation continues to accelerate, particularly among sedans, according to Black Book’s Oct. 1 Market Insights report.
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Used fleet vehicles that sold at wholesale fell 1.5% to $13,603 in August from July, but remained up 1.2% when compared to the same month a year ago, according to Tom Kontos, chief economist for KAR Auction Services.
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Cox Automotive forecasts 1.25 million new-vehicle sales in September 2019, which would represent a 14% drop from the previous year.
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Used vehicle values saw slightly higher depreciation last week, but overall remain fairly stable, according to Black Book’s Sept. 24 Market Insights report.
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J.D. Power Valuation Services’ September 2019 Used Car and Light Truck Guidelines report finds the pre-owned market continues to perform well for auto dealers, registering a 2% increase in average prices from January to August compared with the same period a year ago.
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Overall used wholesale values remained mostly flat last week, as post Labor Day sales continue to show strength, according to Black Book’s Sept. 17 Market Insights report.
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The average three-year-old used vehicle cost buyers $14,443 less dollars then its new equivalent during the second quarter of 2019, according to the latest Used Vehicle report from Edmunds.
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While most wholesale vehicle segments are experiencing low levels of depreciation, heavy depreciation from luxury segments is continuing to weigh down overall wholesale values, according to Black Book’s Sept. 10 Market Insights report.
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Overall vehicle values last week were stable, as the anticipation for Labor Day kept bidding strong at auctions, according to Black Book’s Sept. 3 Market Insights report.
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Change is constant in the remarketing industry, and 2019 continues to see new trends emerge. Here are four trends that remarketers should have on their mind.
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