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As we reach the end of 2019, we’re looking back at the top 10 news stories and top five articles posted on Vehicle Remarketing this year.
Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
Overall average wholesale prices softened in November from a year ago mostly due to 2017 prices that were elevated due to increased demand from hurricanes Harvey and Irma, even though values of former fleet vehicles increased, according to Tom Kontos, KAR Auction Services' chief economist.
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
As the year comes to a close, used sedan values are continuing to decline from the abnormally high levels that the segment saw through most of 2018.
The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
Prices for pre-owned sporty cars such as the Dodge Challenger fell by 3.3% in October, leading all segments in seasonal depreciation, according to the latest report from Black Book.
Overall, car segment values were down 0.44% last week, compared to a 0.54% decline the week prior. Truck segment values were down 0.39% last week, compared to 0.37% the week prior.
Wholesale values saw a heavy decline last week, with sporty cars, minivans, and small pickups leading weekly depreciation.
Segments such as compact cars and mid-size cars are outperforming the overall market. Meanwhile, vans, utility vehicles, and pickups are under performing the overall market.