Used-vehicle depreciation slipped to 1.5 percent in July, as mid-size sedans led a sharper decline in value after a strong spring, reports Black Book.
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Smaller, more fuel-efficient models are getting some attention again after resale prices softened for just over a month once the tax season expired.
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With all of the changes and the number up and down the overall dollar change week over week is a decline of -$103. But, even with the level of changes today, there is still a pretty solid and active market within the wholesale channels.
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Black Book announced the addition of Anil Goyal to its executive team serving as vice president of analytics and strategic relationships.
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Depreciation rates on used vehicles are nearing levels not seen since the recession, though the trend will soon reverse and likely lead to marginally higher losses.
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Used vehicles sold at auction depreciated 1 percent in June compared with a 0.4 percent rate in May, which is typical for summer months, according to Black Book.
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The average price of a used vehicle for model-years 2008-2012 overall dipped slightly during May, the beginning of a summer season that typically sees higher depreciation compared with spring levels.
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Compact SUVs and cargo minivans paced a strong April for remarketers, as used vehicles from the 2008-2012 model years rose 0.9 percent in value in a month that's typically one of the strongest of the year for auctions.
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To get the most value from a used truck, fleet managers looking to auction their units should do a little research and be thoroughly prepared.
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Fleet managers are presented with unique challenges ensuring maximum resale for medium-duty trucks, and understanding the reasons for this as well as current market conditions can help increase overall residuals.
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