A crop of 2015 model-year mid-size sedans that offer greater fuel efficiency and more safety features than ever before are expected to return less residual value to buyers in part due to higher supply volumes, according to a Black Book forecast.
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Black Book has announced that it has promoted Adam Mann to vice president, Dealer Services, Activator Division.
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The average price of a used vehicle fell 1.9 percent in November from the prior month led by steeper-than-expected declines by full-size pickups, according to Black Book.
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The vehicles should finish the year as the only category that will increase in residual value, while the broader market should depreciate more than 12 percent.
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Domestic cars lost the most in value at 3.2 percent among vehicles from the 2009-2013 model-years, while domestic trucks lost 2.1 percent. Compact pickups and full-size passenger vans and full-size cargo vans showed the most strength.
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Black Book expects luxury-level car segments will feel the largest depreciation through the balance of the year, largely driven by off-lease returns in lease-heavy segments.
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Understanding depreciation, how vehicles are valued and when to remarket can improve your total cost of ownership.
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Equifax Inc., a global information solutions company, announced that its auto lending customers will now have the added benefit of direct access to Black Book vehicle value data and loan-to-value (LTV) model data.
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Used vehicles sold at auctions logged their highest depreciation this year in September, as 2009-2013 car and truck models fell 1.7 percent in value.
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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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