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Both the car and truck segment saw similar depreciation: overall car segment values decreased 0.51% last week compared to 0.65% the week before while truck segment values decreased 0.54% compared to 0.48% the week before.
The used wholesale market showed strength in September, as values overall held up in line with what’s expected in summer, but the market is also beginning to show signs of weakness.
Average wholesale used prices continued to see steep declines last week, as used values registered the largest drop since spring, according to Black Book’s Oct. 8 Market Insights report.
Wholesale used vehicle prices decreased 1.04% in September compared to prices the month before, according to Cox Automotive’s latest Manheim Used Vehicle Value Index report.
Used vehicle values are beginning to buckle as depreciation continues to accelerate, particularly among sedans, according to Black Book’s Oct. 1 Market Insights report.
Incentive spending is projected to reach $4,159 (up 6% or $246), the highest level ever for the third quarter and just $28 short of the all-time quarter high set in Q4 2017.
The average transaction price for a new light vehicle in the U.S. was $37,590 in September, a 0.6% year-over-year increase, according to Kelley Blue Book.
Used fleet vehicles that sold at wholesale fell 1.5% to $13,603 in August from July, but remained up 1.2% when compared to the same month a year ago, according to Tom Kontos, chief economist for KAR Auction Services.
Used vehicle values saw slightly higher depreciation last week, but overall remain fairly stable, according to Black Book’s Sept. 24 Market Insights report.
J.D. Power Valuation Services’ September 2019 Used Car and Light Truck Guidelines report finds the pre-owned market continues to perform well for auto dealers, registering a 2% increase in average prices from January to August compared with the same period a year ago.
Overall used wholesale values remained mostly flat last week, as post Labor Day sales continue to show strength, according to Black Book’s Sept. 17 Market Insights report.
The average three-year-old used vehicle cost buyers $14,443 less dollars then its new equivalent during the second quarter of 2019, according to the latest Used Vehicle report from Edmunds.
While most wholesale vehicle segments are experiencing low levels of depreciation, heavy depreciation from luxury segments is continuing to weigh down overall wholesale values, according to Black Book’s Sept. 10 Market Insights report.
Overall vehicle values last week were stable, as the anticipation for Labor Day kept bidding strong at auctions, according to Black Book’s Sept. 3 Market Insights report.
Through the 12-month period ending in June 2019, overall manufacturer incentive spend has declined, and the strength of fleet sales this year has been a big reason why.
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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