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.
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.
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.
Cox Automotive forecasts 1.25 million new-vehicle sales in September 2019, which would represent a 14% drop from the previous year.
Used vehicle values saw slightly higher depreciation last week, but overall remain fairly stable, according to Black Book’s Sept. 24 Market Insights report.
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.
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.
Change is constant in the remarketing industry, and 2019 continues to see new trends emerge. Here are four trends that remarketers should have on their mind.
Overall used vehicle values are at strong levels. Crossover values are holding steady but there is cause for concern in the near future. Sedan values are expected to improve or stabilize as more crossovers enter the market.