Overall car segment values were up 0.24% last week, compared to 0.29% the week before. Overall truck segment values were up 0.16% last week, compared to 0.19% the week before.
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Current sales of electric vehicles are largely driven by incentives, and while incentives help move the metal on the new-vehicle front, they have a negative effect when it comes to residual values.
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Overall car segment values last week were up 0.29%, compared to up 0.25% the week before. Overall truck segment values were up 0.19% last week, compared to a decline of 0.01% the week before.
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Black Book analysts forecast an annual depreciation rate of 15% in 2019 as the supply of used cars and trucks increases, up from a "noticeably strong" 12.4% depreciation rate in 2018.
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Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
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Valuation and forecast solutions provider Black Book’s Used Vehicle Retention Index registered 113.8 for March, a 0.6% decline from February (114.5) but a 1.7% improvement from March 2018 (112.0).
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Truck and car values both saw a bump last week, as the spring market continues to lift overall values, according to Black Book's April 8 Market Insights report.
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Vehicle depreciation accounted for 32.9% of the total cost of ownership over the past 12 months, which continues a three-year trend of declining depreciation costs, according to a new study from Motus.
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In the month preceding the start of the Spring season, trucks continued to show the resilience they've shown in past months. A few key segments showed particular strength and luxury vehicles continued to struggle.
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Overall depreciation was lower last week and midsize car values, in particular, saw a noticeable lift.
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