The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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Overall, wholesale car segments values decreased 0.86% last week, compared to 0.72% the week before.
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Overall average wholesale prices softened in November from a year ago mostly due to 2017 prices that were elevated due to increased demand from hurricanes Harvey and Irma, even though values of former fleet vehicles increased, according to Tom Kontos, KAR Auction Services' chief economist.
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November’s Index registered at 116.5, a 0.2% gain from the previous month.
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The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
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The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
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Deprecation was low through most of 2018. Segments such as sedans performed better than they have in years past, while trucks and SUVs continue to retain their values well.
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Vehicle values were stable last week. Seasonal trends and lower demand have accelerated depreciation higher than where it’s been for most of the year, but this recent week represented an improvement over the market’s performance two weeks ago.
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ALG has named Subaru and Land Rover as the winners of its 2019 Residual Value Awards for the overall mainstream and premium brand categories, according to a company announcement.
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Ford and Toyota had the most models named as having the best certified pre-owned value among 37 segments by Vincentric, the vehicle valuation firm announced.
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