Car segments are retaining their values better than they have in the past six months.
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By implementing one or two new strategies — such as timing sales based on mileage or seasonality, expanding sales channels, or considering purchasing options — small fleet operators can return more money to their fleet’s bottom line.
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Manheim has released a set of updates for its website and mobile application meant to improve efficiency at auction.
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Both cars and trucks saw lower levels of depreciation last week. Sub-compact and mid-size crossovers/SUVs dominated in the truck segment and compact cars continued to show some of the lowest levels of depreciation in the car segment, according to Black Book.
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Depreciation for used cars and trucks saw a slight uptick during the week of Nov. 11, which may have been the result of Thanksgiving shopping activity. Sub-compact crossovers had the highest wholesale values for both car and truck segments by staying flat.
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Vehicle segments across the board have seen an overall increase in depreciation, with the exception of compact vans which were flat for the week of Nov. 11 after having seen the lowest mark overall the week prior with a drop of 2.18%.
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Continuing last weeks trend, the depreciation rate for car and truck segments slowed down during the week of Nov. 4, and prestige luxury cars continued to lead cars with the lowest wholesale values of the segment. New to this week, however, were compact vans showing the lowest wholesale values across both segments with a 2.18% drop, which had rested at 0% the previous week.
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Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28. Overall truck wholesale values decreased by 0.58% during that week, compared to 0.76% the week before. For cars, overall wholesale values decreased by 0.53%, compared to 0.80% the previous week.
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The average wholesale price in August was $10,738, a 0.6% decline from July but a 4.6% increase from a year ago, according to ADESA Analytical Services.
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The values of sub-compact cars have depreciated an average of 24.2% in a year, which ranked at the top of the vehicle classes tracked by Black Book.
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