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Depreciation for cars grew slightly last week, but overall values are continuing to stabilize, according to Black Book's Feb. 4 Market Insights report.
Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.42% last week. In comparison, the market values decreased by 0.58% on average during the prior four-week period.
The awards measure the cost-of-ownership of a vehicle using eight different cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
After several weeks of rising depreciation, vehicle values stabilized last week.
For the third year in a row — and fourth overall — Toyota has earned Kelley Blue Book's overall Best Resale Value Award for mainstream brand.
Overall car segment values declined 0.71% last week, compared to 0.74% the week before.The highest depreciation within the car segment came from subcompact cars, midsize cars, and near luxury cars.
Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
Used vehicle values continued to decline at the start of the new year, pushing sales rates at auction up, but moving prices down.
Vehicle manufacturers will sell 17 million new vehicles in 2019, which would represent only a 1.3% decline from a year that recorded a third consecutive year of more than 17 million new vehicles sold, according to Oliver Strauss, chief economist for TrueCar’s ALG.
Wholesale values declined 0.3% for model years 2016-2017 and 0.2% for model years 2008-2015 in December.
U.S. new-car dealers sold 17.33 million cars and light trucks in 2018, exceeding expectations due to a 2.2% year-over-year improvement in December.
Black Book’s Used Vehicle Retention Index finished 2018 1.9% higher than in the same time in 2017.
The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
The average transaction price for a new vehicle in the U.S. was $37,577 in December 2018, a 1.3% increase from the same time in 2017.
All vehicle segments, except for large utility vehicles experienced a decline in auction volume through the month, the report added.
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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