THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
Wholesale values as of the second week of the new year are holding stable, which is the inverse of the heavy depreciation that late 2019 saw.
The winner is announced at the annual Conference of Automotive Remarketing, which this year will be held on March 24-25, 2020 at Caesars Palace Las Vegas.
Overall car segment values decreased 0.26% last week, compared to 0.68% the week before. Overall truck segment values decreased 0.44% last week, compared to 0.71% the week before.
The outlook for the 2020 used market is positive, at least according to three remarketers from three fleet management companies.
Fleet data collected in 2019 found that depreciation expenses for most vehicles went down in 2019.
Five of the most widely used vehicle segments among light-duty fleets saw relatively low depreciation in 2019.
Quanta Services has partnered with Ritchie Bros. to develop a new online inventory management system that will help improve how the company redeploys assets across its operating locations and subsidiaries.
The wholesale market experienced above average depreciation last week, but there is the sentiment among remarketers that values may begin to stabilize soon.
Former fleet vehicles sold by KAR Global's ADESA remarketing unit fell 3.2% in value in November from the prior month but remain 3% ahead of a year ago partly due to a softening wholesale market.
CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.
Overall car segment values decreased 1.04% last week, compared to 0.91% the week before. Overall truck segment values decreased 1.18% last week, compared to 0.88% the week before.
The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values.
Black Book found that gains among sporty cars (0.43%), compact cars (0.34%), and midsize cars (0.22%) kept retained values essentially flat compared with September (115.9), even as several truck categories showed losses.
Wholesale values saw steep declines in both the car and truck segment last week, as the overall wholesale market continues to experience seasonal drops.
Overall truck segment values declined 0.83% last week, compared to 0.99% the week before.
The 2019 International Automotive Remarketers Alliance (IARA) Spring Roundtable was co-located with the 2019 Conference of Automotive Remarketing at the Caesars Palace Las Vegas.
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