
Gains last week were minimal, remaining essentially flat from the week before, signaling an end to the price gains the market has experienced.
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Black Book's Used Vehicle Retention Index fell to 113.6 in April, a 0.2% decline from March. Despite the index now falling for five straight months, it is still 1.4% higher than the 112 registered a year ago.
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U.S. new-vehicle dealers sold 1,328,649 cars and light trucks in April, a 2.3% year-over-year decline and a full 3% loss to start the year compared with the first four months of 2018.
Read More →Build Data comprises "as built" content such as optional equipment specific to a unique 17-digit VIN. This new integration will allow for a higher degree of valuation precision for General Motors vehicles.
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Overall car segment values were up 0.24% last week, compared to 0.29% the week before. Overall truck segment values were up 0.16% last week, compared to 0.19% the week before.
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The spring / tax season market uptick helped make March a strong month for used vehicle sales, and late-model sedans from fleet leasing consignors continue to outperform their SUV/CUV counterparts, according to Tom Kontos, KAR's chief economist.
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Black Book analysts forecast an annual depreciation rate of 15% in 2019 as the supply of used cars and trucks increases, up from a "noticeably strong" 12.4% depreciation rate in 2018.
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Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
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The lull that the wholesale market experienced through January and February was upended in March, as the industry saw the traditional spring bounce in values, according to the most recent Manheim Index report.
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Vehicle depreciation accounted for 32.9% of the total cost of ownership over the past 12 months, which continues a three-year trend of declining depreciation costs, according to a new study from Motus.
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