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Used vehicle sales decreased 2% year-over-year in April, in large part due to two fewer selling days compared to the year before, noted Cox Automotive in its May 2018 Industry Update.
Overall, car segment values decreased 0.27% last week, compared to 0.08% the week before. Overall truck segment values decreased 0.05% last week, compared to 0.08% the week before.
Recent Class 8 trade volumes have been lower than predicted, which means pricing has been more stable than expected for used trucks, according to J.D. Power & Associates.
Average wholesale car segment values were down last week, breaking a two month streak of rising car values, according to Black Book’s May 14 Market Insights report.
Prices for vehicles from fleet lease consignors increased 6.6% in March and are 4.9% higher than a year ago driven in part by a strong spring selling season that boosted the values significantly from February levels, according to KAR Auction Services.
Used compact and midsize passenger cars held their value better than pickups and cargo vans in April, and overall vehicle depreciation eased due to a strong spring selling season, according to Black Book.
Car values were up for the second month in a row last week, however, the segment's wholesale values show signs of leveling off, according to Black Book’s May 7 Market Insights report.
Manufacturers may choose to absorb higher federal interest rates on new vehicles to keep prices from rising higher than they have been with heavier incentives, but this could have an adverse effect on residual values.
The Jeep Wrangler Unlimited retained the highest percentage of its value after the first year of ownership, according to analysis conducted by ISeeCars.com, a consumer shopping portal for used cars.
The numbers reveal a number of factories, including Ford, are targeting compact and midsize inventory. Ford offered the most generous discounts on vehicles in those segments.
The average transaction price of a new car in April was $35,411, a 2% increase year-over-year, according to a Kelley Blue Book report.
Car values continued to rise last week, marking the seventh week of rising car values, driven in part by the performance of sporty and mid-size cars, according to Black Book’s April 30 Market Insights report.
Black Book's Used Vehicle Retention Index for April remained unchanged from the previous month at 112 and has declined by a mere 1% over the last 12 months, the company announced.
Car values continued to rise last week, marking the seventh week of rising car values, driven in part by the performance of sporty and mid-size cars, according to Black Book’s April 30 Market Insights report.
SUV segments drove auction volume in March, according to J.D. Power’s April Used Car and Light Truck Guidelines Industry Update. Luxury compact utility volume was up 71.7% and large utility volume was up 27.8%.
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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