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Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
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Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.
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Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.
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Six pickup trucks made the top-10 list of vehicles that retain the highest percentage of their value after a five-year ownership period, along with two Jeeps, a Subaru, and the Toyota 4Runner. At the other end of the spectrum, the Nissan Leaf saw the highest depreciation over the same period.
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While luxury vehicles continue to struggle, overall vehicle values held steady last week, according to Black Book’s Oct. 8 Market Insights report.
Read More →Segments such as compact cars and mid-size cars are outperforming the overall market. Meanwhile, vans, utility vehicles, and pickups are under performing the overall market.
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The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
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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 Ram 3500 earned the best resale value award for the heavy-duty pickup segment. The Ram 3500 was also the overall winner for best resale value in 2018.
Read More →Vehicles that were taken out of commercial, government, and daily rental fleets and sold at auction in July were worth 8.1% more than they were a year ago and 0.4% more than in June, according to Tom Kontos, KAR Auction Services' chief economist.
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