As the year comes to a close, used sedan values are continuing to decline from the abnormally high levels that the segment saw through most of 2018.
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The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
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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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Used vehicle prices reached $20,084 in the third quarter of 2018, representing a 3.5% year-over-year increase, and the highest price since 2005.
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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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Due to the areas affected being less densely populated than cities affected by recent hurricanes such as Florence, Irma, and Harvey, the impact on the auto industry will be less severe than those hurricanes.
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Joe LeMonds has been promoted to assistant general manager of Sales and Marketing at the auction, while Vann Humphrey has been hired on as assistant general manager of operations.
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Overall car segment values declined 0.25% last week, compared to 0.2% the week prior. These two weeks of accelerated depreciation follow more than two months of strong car segment values.
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Retail customers may be moving away from luxury vehicles and toward trucks and SUVs for their leases, according an analysis from Swapalease.com.
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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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