Through this integration, CDK dealer customers will realize stronger profit potential with a more precise valuation process during trade-ins for specialty vehicles, the companies noted.
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While luxury vehicles continue to struggle, overall vehicle values held steady last week, according to Black Book’s Oct. 8 Market Insights report.
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Segments such as compact cars and mid-size cars are outperforming the overall market. Meanwhile, vans, utility vehicles, and pickups are under performing the overall market.
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Overall used vehicle values were strong in September, and five key segments played a key role in that strength, according to Black Book’s monthly Used Vehicle Retention Index.
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The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
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Values for nearly all car segments that Black Book track were up; subcompacts were up 0.14%, compacts were up 0.33%, mid-size were up 0.06%, full-size were up 0.02%, sporty were up 0.34%, and premium sporty were up 0.11%.
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Wholesale values in August experienced the biggest increase since 2011, as Black Book’s Used Vehicle Retention Index was up 1.4% month-over-month.
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Residual values for three-year-old vehicles are flattening as a result of a record level of volume in the second quarter of 2018.
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Compact and mid-size cars claimed the top two spots in terms of best-performing segments for the week as values for the two segments were up 0.17% and 0.24%, respectively.
Read More →The used-vehicle market has performed exceptionally well so far in 2018, with J.D. Power Valuation Services’ Adjusted Used Vehicle Price Index reaching 119.3 through July. That’s 4.7 percentage points above year-ago levels and 4.8 points above January’s reading.
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