The car segment saw the highest declines of the year during the last week of 2017, according to Black Book’s Jan. 1 Market Insights report.
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Typical seasonal highs and lows were disrupted this year due to a run of natural disasters destroying hundreds of thousands of vehicles and causing a surge in replacement activity. Overall fleet depreciation improved this year.
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As demand for vehicles continues to slow down at the end of 2017, the truck segment’s average wholesale value experienced its biggest decline of the year, according to Black Books Dec. 25 Market Insights report.
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Given the scope of Hurricanes Harvey and Irma, news about the natural disaster and the effect that it had on the used car market held several top spots on the list of top articles of the year.
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Looking toward the end of December, wholesale prices for vehicles up to 8 years old are expected to decline about 1%. Looking at the end of 2017 as a whole, used prices are expected to decline roughly 5.6%.
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As December progresses, average wholesale vehicle values continue to decline, with subcompact cars and subcompact crossovers leading the pack in their respective segments last week, according to Black Book’s Dec. 18 Market Insights report.
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The hurricanes that swept through Texas and Florida destroyed and damaged as many as 900,000 vehicles, and the replacement activity that the catastrophic events spurred boosted retention by almost 2%, according Black Book.
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Wholesale cars and truck depreciation has continued to accelerate through the midpoint of December, as the seasonal slide continues to take effect, according to Black Book’s Dec. 11 Market Insights.
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The average price of a used vehicle from model years 2012 to 2016 depreciated in value by 2.2%, in November, according to Black Book. Year-over-year, the average value for these vehicles has depreciated by 13.2%.
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Black Book's Used Vehicle Retention Index for November, rose 0.3% month-over-month from 114.6 to 115.0, its third straight monthly increase dating back to August when it was at 112.6.
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