As gas prices have continued to decline, smaller vehicles — in both the car and truck segments — have also seen an accelerated rate of depreciation, according to Black Book’s June 19 Market Insights report.
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Honda has released a newly redesigned certified pre-owned (CPO) vehicle website meant to provide an easier and more focused experience for its CPO segment, which has grown by 6.8% this year, according to a company statement.
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Used vehicle prices experienced a reversal in May, falling 1.2% from the previous month, according to Black Book.
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GM Financial reported $202 million in net income in the first quarter of 2017, a 23% increase over the same time last year, despite pressure on used-car values, the company has announced.
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Used vehicles increased 0.4% in value in April, as buyers boosted the value of smaller cars, which have begun to shrug off several years of heavier declines, according to Black Book.
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Carvana, an online used-car retailer that’s best known for its “car vending machine,” has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), paving the way for an initial public offering (IPO).
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Rising interest rates will have a minimal effect on the used car market today. However, the used-car market is poised to suffer, in the longer term, as federal interest rates continue to rise, one expert said.
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Challenging winter weather led to a slight year-over-year decline in auction sales through January in the Midwest region of the U.S. However, as January concluded and February progressed, sales began to pick up.
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A record number of newer model year off-lease vehicles returning to dealer lots this year will be putting significant upward pressure on the late-model used market, according to the February 2017 Edmunds Used Vehicle Market Report.
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Small and large pickups were among the top performing segments in January with a 1.1% depreciation rate among two- to six-year-old vehicles sold in auction lanes, according to Black Book.
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