Commercial sales increased 10.3% in October, while sales to government agencies increased 1%. Sales into daily rental increased 0.2%.
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The average price of two- to seven-year-old vehicles depreciated less sharply than expected in February due to "a spirited start to the spring selling season" that has boosted prices for used passenger cars, according to Black Book.
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The rate of depreciation among car segments continued to accelerate last week, particularly among mid-size, full-size, and subcompact cars, according to Black Book’s May 29 Market Insights report.
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Trucks depreciated higher than cars for the first time this year, with truck values decreasing 0.68% on a volume-weighted basis while overall car values decreased by 0.56%.
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Car segments showed some of the heaviest depreciation of the year entering August with an overall depreciation of 0.62% last week, while values of compact van and sub-compact SUVs of the truck segment declined the most by 1.36% and 1.12% respectively.
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Car segments depreciated at nearly double the percentage of trucks this past week, with overall car values decreasing 0.47% during the week of July 25. This is similar to the average depreciation rate of 0.46% of the previous four weeks.
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Full-size cars finished January with the strongest retention value in a month that saw used vehicles depreciate 1.2 percent, according to Black Book's monthly report.
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