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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.
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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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Used vehicle sales continued their strong performance in the wholesale market in July, as an "abnormal bounce" that began in June continued to show strength with overall values increasing in July 1.51% from the prior month, according to Manheim.
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The first half of 2018 has been a strong year for used vehicle values, and growth in upstream remarketing is playing a helpful role.
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