What the Fed's Flat Interest Rates Will Mean for Used Cars
The Federal Reserve has voted unanimously that it would not hike interest rates any further for the remainder of 2019.
The Federal Reserve has voted unanimously that it would not hike interest rates any further for the remainder of 2019.
In the month preceding the start of the Spring season, trucks continued to show the resilience they've shown in past months. A few key segments showed particular strength and luxury vehicles continued to struggle.
The average sale price for used vehicles from fleet leasing consignors continued to outpace vehicles cosigned to auction by manufacturers and dealers in February, according to Tom Kontos, KAR's chief economist.
The 2019 Conference of Automotive Remarketing is less than two weeks away, and this year, the annual conference will feature a panel discussion led by managers of some of the leading commercial fleet leasing companies.
Two Michigan men have been charged with allegedly conspiring to steal Volkswagen and Audi diesel vehicles involved in the emissions scandal that were parked at the Pontiac Silverdome, U.S. Attorney Matthew Schneider announced March 11.
Wholesale luxury car and compact van values declined during a week where overall depreciation remained fairly stable.
The average sale price for used vehicles from fleet leasing consignors increased 1.9% to $12,706 in January from the prior month and 3.9% from January of 2018, according to Tom Kontos, KAR's chief economist.
This growth was in large part fueled by the strong performance of lower-priced vehicles. Compact cars and midsize cars, in specific, saw the strongest growth among all vehicle segments and outperformed the overall market.
Subcompact crossovers, compact luxury crossovers/SUVs, and compact vans fell by 1.78%, 1.61%, and 1.55% last week, representing the highest depreciation among all vehicles.
The two months of falling vehicle values may be an indicator of what depreciation might look like in 2019.
Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
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.
The average prices for used fleet vehicles sold at auction increased 6.2% to $12,464 in 2018, despite a weaker finish to the year that saw a 0.4% decline in December, according to Tom Kontos, KAR Auction Services' chief economist.
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.
The Conference of Automotive Remarketing drew a professional crowd that networked for business and cultivated industry friendships.
View more photos
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
