The average selling price of used vehicles sold by new-vehicle dealerships reached $19,397, according to the National Automobile Dealers Association (NADA)'s 2015 Financial Report.
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Beepi, a car-buying startup, announced that it will be adding a leasing option for its used-car buying service.
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Used vehicles depreciated an average of 3.6% in the first quarter compared to 0.6% in 2015 in a signal of sharper depreciation, but values improved in March over January and February levels, according to Black Book.
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Enterprise Car Sales is now a preferred used car provider for Navy Federal Credit Union. As part of the agreement, Enterprise Car Sales and Navy Federal will periodically team up to offer promotions catered to Navy Federal members.
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Used commercial vehicle transactions of GVW 3-8 vehicles were just over 176,000 units during the last quarter of the 2015 calendar year, up 14.3 percent from the same time period in 2014 calendar year.
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Vehicle depreciation is impacted by a number of factors, from supply and demand to overall economic conditions. While 2015 was relatively stable for depreciation, some challenges are on the road ahead.
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The wholesale used-vehicle market finished 2015 stronger than expected with an average 13.2% depreciation rate for used vehicles two to six years old and trucks retaining their value 9% better than passenger cars on average.
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Certified pre-owned vehicle sales accounted for 22.7 percent of used sales by dealers, setting a record for a single quarter, according to a report by Edmund's.com. Overall, the sale of used vehicles came in strong in the second quarter of 2015 at approximately $9.6 million, growing at a 5.1 percent year-over-year.
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Average wholesale used vehicle prices increased in April in a trend attributed to a significant proportion of sales of higher priced, late-model, off-rental, manufacturer program vehicles that elevated average prices, according to ADESA.
Read More →Wholesale used-vehicle prices in February averaged $10,176 – down 0.3 percent compared to January but up 3.4 percent relative to February 2014.
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