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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Wholesale vehicle prices for former fleet vehicles at auction increased 0.8% in May from April and have increased 6.8% from a year ago in a "seasonally strong" market, according to Tom Kontos, KAR Auction Services' chief economist.
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Sporty and luxury car depreciation improved last week, however, mid-size car depreciation offset the improvement experienced by those segments, according to Black Book’s June 25 Market Insights report.
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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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Matt Itami will serve as the general manager of ADESA Chicago, while Cheryl Toler will serve as the general manager of ADESA Fresno.
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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.
Read More →Vehicle remarketing and technology solutions provider KAR Auction Services Inc. has named Joe Oliveri vice president of the company’s Autoniq business unit, which provides mobile and digital vehicle pricing and evaluation reports.
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Wholesale values held strong in May, registering a 112.9 in Black Book's Used Vehicle Retention Index. A stable used market, the company noted, kept values high during a month where wholesale values typically dip.
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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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