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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The behind-the-scenes journey a vehicle takes from input to auction and beyond is an exciting experience. The following is a visual road map of an auction from beginning to end at Manheim's Riverside, Calif., operation. Photos by Blake Bobit and Chris Wolski.
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Overall depreciation for used vehicles from the past five model years improved slightly from July as the average value fell 1.3 percent in the month compared to 1.5 percent in July, according to Black Book's monthly report.
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Second quarter average transaction prices for franchise used vehicles hit $16,781 -- the highest price on Edmunds.com record. Additionally, in the second quarter, CPO made up 20.4 percent of the franchise used market.
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