Wholesale used vehicle prices rose 2.77% in September on a month-over-month basis, which drove Manheim’s Used Vehicle Value Index up 6.3% from a year ago to 134.9, marking five months of consecutive growth.
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At a depreciation rate of 0.94%, prestige luxury cars experienced the biggest drop in average wholesale value among all cars compared to the week before. Premium sporty cars posted the second-highest decline at 0.83% depreciation.
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Black Book’s Used Vehicle Retention Index increased from 112.6 to 113.9 in September, the largest month-over-month gain since March 2012, according to a company announcement.
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The average wholesale value of cars and trucks saw little depreciation last week, as lane activity has increased as a result of the recent hurricanes, according to Black Book’s Sept. 25 Market Insights report.
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Fleet lease consignor prices moved higher in August, increasing 1.4% over July and 2.3% through the first eight months of the year compared with 2016, according to the Sept. 20 Kontos Kommentary.
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In the car segment, luxury and sporty cars decreased the most in value last week, while mid-size vehicles showed a slight increase in value
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Wholesale used vehicles had their best weekly performance in two months, according to Black Book’s Sept. 11 Market Insights report.
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Wholesale used vehicle prices — on a mix-, mileage-, and seasonally adjusted basis — increased 0.75% month-over-month in August, bringing the Manheim Used Vehicle Value Index to a record high of 131.3.
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Car and truck segments saw lower overall depreciation rates last week, according to Black Book's Sept. 4 Market Insights report.
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Auction prices for fleet lease vehicles have increased 1.8% through July even with a 0.1% decline in the month amid "price softening," according to Tom Kontos' latest commentary.
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