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Overall values for car segments that Black Book tracks were up marginally on average, however, a majority of the individual segments reported lower values.
Values for nearly all car segments that Black Book track were up; subcompacts were up 0.14%, compacts were up 0.33%, mid-size were up 0.06%, full-size were up 0.02%, sporty were up 0.34%, and premium sporty were up 0.11%.
Manheim noted that this increase in wholesale price is an abnormal for this time of year, as higher depreciation is normally expected toward the end of summer.
Wholesale values in August experienced the biggest increase since 2011, as Black Book’s Used Vehicle Retention Index was up 1.4% month-over-month.
Residual values for three-year-old vehicles are flattening as a result of a record level of volume in the second quarter of 2018.
Compact and mid-size cars claimed the top two spots in terms of best-performing segments for the week as values for the two segments were up 0.17% and 0.24%, respectively.
The used-vehicle market has performed exceptionally well so far in 2018, with J.D. Power Valuation Services’ Adjusted Used Vehicle Price Index reaching 119.3 through July. That’s 4.7 percentage points above year-ago levels and 4.8 points above January’s reading.
The California new-vehicle market declined for the fifth consecutive quarter during the period ending in June, providing further proof that the market has plateaued after several years of big increases.
Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
The best-performing segment among cars was the full-size car segment. Among trucks, the best-performing segment was the small pickup segment, which was up 0.40% week-over-week.
Used truck prices stayed relatively flat in July but remained at favorable levels compared with the same month a year ago, according ACT Research.
The Ram 3500 earned the best resale value award for the heavy duty pickup segment. The Ram 3500 was also the overall winner for best resale value in 2018.
Overall, cars segment values decreased by 0.11%, compared to 0.2% the week before. In the truck segment, overall values decreased 0.1%, compared to 0.15% the week before.
Overall, car segment values decreased by 0.2%, compared to 0.22% depreciation the segment experienced the week before. Overall, truck segment values decreased by 0.15%, equal to the deprecation the segment experienced the week before.
Used vehicle sales continued their strong performance in the wholesale market in July, as an "abnormal bounce" that began in June continued to show strength with overall values increasing in July 1.51% from the prior month, according to Manheim.
As vintage Chevrolet trucks increase in popularity with enthusiasts, more trucks are going up for auction and sale prices for the most coveted trucks keep increasing. As we look back at 100 years of Chevy truck history, here’s a gallery of the nine most expensive Chevrolet trucks sold at Barrett-Jackson auctions to date. Photos courtesy of General Motors.
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