Average wholesale car values were up last week, representing the second consecutive week of growth for cars, according to Black Book’s April 2 Market Insights report.
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Fleet mainstays such as pickups and vans are expected to perform well at wholesale this year. Higher-end vehicles, such as those found in executive fleets are expected to struggle.
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Car segment values continued to thrive last week, as nearly all vehicles within the segment saw growing consumer demand, according to Black Book’s March 26 Market Insights report.
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Overall, average wholes car values were essentially flat last week, down 0.01%, compared to 0.14% the week before. Had it not been for luxury vehicles the car segment would have seen a week-to-week rise in average wholesale values.
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Wholesale used vehicle prices were flat in February, halting three months of declines, according to Manheim’s Used Vehicle Value Index.
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The average price of two- to seven-year-old vehicles depreciated less sharply than expected in February due to "a spirited start to the spring selling season" that has boosted prices for used passenger cars, according to Black Book.
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For the sixth week in a row, the car segment has realized lower depreciation than the truck segment, according to Black Book’s March 12 Market Insights report.
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Depreciation can account for a large portion of a vehicle’s lifecycle costs. While there is no escaping from the fact that vehicles are depreciating assets, there are ways to control and minimize the depreciation costs you incur.
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Weekly depreciation reached the lowest point seen all year this past week as smaller, lower-priced, vehicles continue to keep wholesale values strong.
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Vehicle depreciation rates were at the lowest levels seen all year last week, as the effects of the spring market demand begin to kick in, according to Black Book’s Feb. 26 Market Insights report.
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