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Rising used vehicle depreciation pulled average April values into the red in a month that's typically the last strong month of the spring season, according to Black Book.
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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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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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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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The wholesale used-vehicle market finished 2015 stronger than expected with an average 13.2% depreciation rate for used vehicles two to six years old and trucks retaining their value 9% better than passenger cars on average.
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Used-vehicle secondary market price patterns show that auction prices are influenced by seasonal factors. Understanding select concepts and related variables can help fleet managers leverage seasonal trends to maximize value for their organizations.
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Certified pre-owned vehicle sales accounted for 22.7 percent of used sales by dealers, setting a record for a single quarter, according to a report by Edmund's.com. Overall, the sale of used vehicles came in strong in the second quarter of 2015 at approximately $9.6 million, growing at a 5.1 percent year-over-year.
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Trucks and SUVs logged the strongest resale value during July in a month that saw lighter depreciation of 1.3 percent for 2010-2014 model year vehicles, according to Black Book.
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The resale value of a used vehicle is determined by three factors: the unit’s age, total mileage, and overall condition. A used company vehicle in poor condition, because of driver abuse or neglect, will result in lost resale value or incur unnecessary reconditioning expense at auction. Here's what you can do to minimize vehicle abuse.
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