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Used Vehicle Prices Climb Higher As Sales Pace Slows
The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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SEARCHMENUSEARCHThe higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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Used vehicles depreciated an average of 3.6% in the first quarter compared to 0.6% in 2015 in a signal of sharper depreciation, but values improved in March over January and February levels, according to Black Book.
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The 2016 Conference of Automotive Remarketing (CAR) took place March 16-17 at Caesars Palace, Las Vegas. Now in its 21st year, CAR delivered high-quality discussions and information on subjects ranging from automating the if-bid system to how to maximize auction earnings to a look forward to residual values for 2016-2017. In addition, attendees had plenty of opportunities to network and build their personal and professional connections. Photos by Chris Wolski and Steve Reed.
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Newly named President Gary Mott outlines FLD's short-term focus on new technologies; its near-term focus on cloud-based inventory management; and a long-term goal of international expansion, particularly in South America.
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Five remarketing industry professionals received top honors at the Conference of Automotive Remarketing (CAR) with the awarding of the 2016 Consignor of the Year, Remarketer of the Year, Industry Leadership Award, and the Ed Bobit Icon awards.
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Full-size pickups led vehicle depreciation in February, while mid-size cars, full-size cars, and utility vehicles held their value best, according to Black Book.
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Used commercial vehicle transactions of GVW 3-8 vehicles were just over 176,000 units during the last quarter of the 2015 calendar year, up 14.3 percent from the same time period in 2014 calendar year.
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Car shoppers now get a Carfax Vehicle History Report with every Chevrolet, Buick, and GMC Certified car, truck, and SUV at no-cost from the selling dealer.
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ADESA, Inc., has signed an agreement to acquire eight Brasher family auctions for $283 million under an agreement announced by parent KAR Auction Services.
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Vehicle depreciation is impacted by a number of factors, from supply and demand to overall economic conditions. While 2015 was relatively stable for depreciation, some challenges are on the road ahead.
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Residual values of full-size vans have remained strong while compact vans have weakened in the past year, creating a widening gap that has created two used van markets for fleet sellers.
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