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The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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The average transaction price for a new vehicle in the U.S. was $37,577 in December 2018, a 1.3% increase from the same time in 2017.
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The average 12-month depreciation through the end of November for all vehicles was 12.5%.
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Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
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The Mercedes-Benz C-Class topped a list of the most recalled cars in recent model years, while the Hyundai Accent was the least-recalled vehicle during the same period, according to a report on ISeeCars.com.
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Lincoln is expanding its luxury subscription pilot service in West Los Angeles by bolstering the services’ inventory with a slate of used 2017 Lincoln vehicles, according to a company announcement.
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The average price of a used vehicle from model years 2012 to 2016 depreciated in value by 2.2%, in November, according to Black Book. Year-over-year, the average value for these vehicles has depreciated by 13.2%.
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With the number of off-lease vehicles coming into the used car market projected to grow in the coming years, it might be the time for used car leasing to make a return, which would boost demand and price at wholesale for several used car segments, according to Swapalease.com.
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PSA Group has created Carventura.com, a peer-to-peer used car marketplace, as a way to bolster its presence in the peer-to-peer marketplace in France, according to a company announcement.
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Manheim has updated its vehicle valuation tool, the Manheim Market Report (MMR), to provide more detailed valuations of used vehicles to increase transparency and improve the remarketing process, the company announced.
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