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Wholesale values as of the second week of the new year are holding stable, which is the inverse of the heavy depreciation that late 2019 saw.
Black Book’s Used Vehicle Retention Index for December 2019 registered 113.3, representing a 0.7 point decline from the month before.
Overall car segment values decreased 0.26% last week, compared to 0.68% the week before. Overall truck segment values decreased 0.44% last week, compared to 0.71% the week before.
Overall car segment values decreased 0.68% last week, compared to 0.92% the week before. Overall truck segment values decreased 0.71% last week, compared to 0.85% the week before.
The wholesale market experienced above average depreciation last week, but there is the sentiment among remarketers that values may begin to stabilize soon.
CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.
Overall car segment values decreased 1.04% last week, compared to 0.91% the week before. Overall truck segment values decreased 1.18% last week, compared to 0.88% the week before.
The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values.
Black Book found that gains among sporty cars (0.43%), compact cars (0.34%), and midsize cars (0.22%) kept retained values essentially flat compared with September (115.9), even as several truck categories showed losses.
Wholesale values saw steep declines in both the car and truck segment last week, as the overall wholesale market continues to experience seasonal drops.