Commercial sales increased 10.3% in October, while sales to government agencies increased 1%. Sales into daily rental increased 0.2%.
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This heavy depreciation was in large part driven by rising no-sales at several auto auctions.
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Wholesale values for the entire sedan segment dropped after appreciating for the previous three weeks.
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Overall values for car segments that Black Book tracks were up marginally on average, however, a majority of the individual segments reported lower values.
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Values for nearly all car segments that Black Book track were up; subcompacts were up 0.14%, compacts were up 0.33%, mid-size were up 0.06%, full-size were up 0.02%, sporty were up 0.34%, and premium sporty were up 0.11%.
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The California new-vehicle market declined for the fifth consecutive quarter during the period ending in June, providing further proof that the market has plateaued after several years of big increases.
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Used compact and midsize passenger cars held their value better than pickups and cargo vans in April, and overall vehicle depreciation eased due to a strong spring selling season, according to Black Book.
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The numbers reveal a number of factories, including Ford, are targeting compact and midsize inventory. Ford offered the most generous discounts on vehicles in those segments.
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The used-vehicle industry reached a record-breaking 39.2 million in sales in 2017, representing a 1.6% year-over-year increase, according to the latest Used Car Report from Edmunds.
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Carvana recently reported its financials for the first quarter of 2018 and full-year 2017, and its performance shows that more buyers are opting for an online experience to purchase their used cars.
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