On a year-over-year basis, 2017 started the same as all of 2016 — trucks and vans up and cars down, according to Manheim. New vehicles sales into rental declined by approximately 7% in January compared to January 2016.
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Wholesale used vehicle prices in December averaged $10,642, which was essentially flat from the month before but a 3.9% increase over the same period in 2015, according to ADESA. Truck prices were down 0.6% in December.
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In December, the average mileage on rental risk units sold (38,600 miles) was similar to recent months, but it was 13% lower than a year ago, according to Manheim. The Manheim Index for December finished at 124.9, a decline of 0.6% year-over-year.
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Small cars are making a comeback to open the year, and Black Book believes the segment could be in for a good spring.
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Cars and truck segments both had the smallest weekly rate of depreciation since summer, with truck values decreasing by 0.3% and cars depreciating by 0.42%, which was consistents with the prior week’s depreciation rate.
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While trucks had greater overall depreciation this week compared to cars, luxury vehicle segments showed weekly increase in depreciation in both categories.
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While truck segments retained their values better than cars, subcompact vehicle values in both car a truck categories showed steeper declines compared to all other vehicles.
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A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening.
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Maserati North America has partnered with Manheim to centralize its processes for wholesaling vehicles, including revamping its fleet management program and the liquidation of its off-lease, buyback, and company-owned units.
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Two-year-old compact van retention values declined sharply this year, with the values being four-percentage points lower this year for 2014 model-year vehicles in comparison to last year for 2013-MY vehicles.
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