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Deprecation was low through most of 2018. Segments such as sedans performed better than they have in years past, while trucks and SUVs continue to retain their values well.
Vehicle values were stable last week. Seasonal trends and lower demand have accelerated depreciation higher than where it’s been for most of the year, but this recent week represented an improvement over the market’s performance two weeks ago.
ALG has named Subaru and Land Rover as the winners of its 2019 Residual Value Awards for the overall mainstream and premium brand categories, according to a company announcement.
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.
Ford and Toyota had the most models named as having the best certified pre-owned value among 37 segments by Vincentric, the vehicle valuation firm announced.
Full-size cars and SUVs depreciated the most in the past week, as vehicle usage and demand has fallen in recent weeks even in the face of lower gasoline prices, according to Black Book's Nov. 13 Market Insights report.
Used vehicle prices reached $20,084 in the third quarter of 2018, representing a 3.5% year-over-year increase, and the highest price since 2005.
Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
Seasonal depreciation patterns are expected to take hold through the rest of the year, with vehicle values declining on a wider scale.
Peterbilt announced a new warranty option for Red Oval Certified Pre-Owned truck customers.
This heavy depreciation was in large part driven by rising no-sales at several auto auctions.
The pricing for medium-duty trucks at auction was down for the second month in a row in September, according to J.D. Power’s October Commercial Truck Guidelines Industry Update.
Record-setting orders for new Class 8 trucks are apparently not creating a used-truck glut, if used-truck prices are any indication. However, the growth in prices is expected to slow.
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.
Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.
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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