Five of the most widely used vehicle segments among light-duty fleets saw relatively low depreciation in 2019.
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The wholesale market experienced above average depreciation last week, but there is the sentiment among remarketers that values may begin to stabilize soon.
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CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.
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The average sale price for a 3-year-old used vehicle was $14,951 less than its new equivalent in the third quarter of 2019.
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Overall car segment values decreased 1.04% last week, compared to 0.91% the week before. Overall truck segment values decreased 1.18% last week, compared to 0.88% the week before.
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The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values.
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Wholesale values saw steep declines in both the car and truck segment last week, as the overall wholesale market continues to experience seasonal drops.
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Wholesale prices in October tempered down from the high levels reached in August, according to J.D. Power’s November 2019 Used Car and Light Truck Guidelines Industry Update.
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Overall truck segment values declined 0.83% last week, compared to 0.99% the week before.
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Honda received the company’s top spot for the mainstream brand category and Land Rover earned the stop for the luxury brand category.
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