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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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Subcompact crossovers were the only segment that saw a positive change last month, compact vans and luxury cars saw the biggest declines.
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The value of former fleet vehicles sold at physical auctions and through other wholesale channels fell 1.6% in September compared to August but were 0.9% higher than a year ago, according to commentary by KAR Global's chief economist.
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Vehicle logistics provider Acertus has launched a transportation management platform that allows vehicle manufacturers and shippers such as fleet management companies to better manage the process of moving vehicles between locations.
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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.
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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.
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Wholesale used vehicle prices decreased 1.04% in September compared to prices the month before, according to Cox Automotive’s latest Manheim Used Vehicle Value Index report.
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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.
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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.
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KAR Auction Services Inc. has rebranded and will begin doing business as KAR Global, the company announced.
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Used vehicle values saw slightly higher depreciation last week, but overall remain fairly stable, according to Black Book’s Sept. 24 Market Insights report.
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