In another high profile indicator of consumer EV skepticism, the auto rental giant will sell off the EVs to avoid further financial losses.
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Pressures assailing the wholesale used-vehicle market are affecting the important “days-to-sales” figures, a source of depreciation losses.
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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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The average price of a used vehicle for model years 2011-2015 depreciated 1.7% in June, following light depreciation in May. These vehicles fell 15.4% in value from year-ago-levels, according to Black Book.
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Over the past four years vehicle depreciation rates have remained below 14% for two- to six-year old vehicles, but that is anticipated to change for 2016. In 2016, depreciation rates are expected to climb to 15%. Further analysis of the market shows how cars, SUVs, and trucks fared in 2015.
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Tax season momentum, particularly in the smaller car segments, has yet to pick up. According to data from "Black Book," a year-on-year comparison shows all the segments are down from the same time in 2015.
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Used vehicles model-years 2008-2012 overall depreciated -2.1 percent in October, marking a noticeable change from September data recorded at -1.3 percent.
Read More →Black Book released a report on depreciation rates for the month of June, noting that compact cars lead the pack in terms of depreciation for the month.
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