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Used cars outperformed trucks in March, as full-size pickups, compact vans, compact cars, and sporty cars increased in value, while as overall used vehicles depreciated 0.6%, according to Black Book.
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The 2017 Conference of Automotive Remarketing (CAR) was held March 1 to 2 at the Paris Las Vegas hotel, and was host to nearly 700 remarketers and consignors.
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Tim Meta, national remarketing manager of Fifth Third Bank, was honored with the Consignor of the Year award, while the Nichols family of BSC America received the honor of Remarketer of the Year. Both awards are sponsored by Bobit Business Media.
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The vehicle depreciation rate will reach 17.8% in 2017 on 17 million new-vehicle sales, slightly higher than the 17.3% mark recorded in 2016, according to latest forecast from Black Book and Fitch Ratings. Prior to the Great recession, annual depreciation trended between 16% and 18%.
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New Zealand has been ranked worst in a global survey for depreciation in cars, with a 54% decrease in value after 56,000 kms surpassing both the UK and the U.S. The country with the lowest percentage of passenger car depreciation is China.
Read More →New-vehicle sales are expected to be down 3% compared to the same time last year, for a total of 1.3 million retail and fleet vehicles sales during February, which lowers the estimated seasonally adjusted annual rate (SAAR) to 17.1 million compared to February 2016’s 17.6 million SAAR.
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Subaru Canada, Inc. has won its first-ever Best Retained Value “Overall Brand Award in the Car Category from Canadian Black Book (CBB), according to an announcement from the company.
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A record number of newer model year off-lease vehicles returning to dealer lots this year will be putting significant upward pressure on the late-model used market, according to the February 2017 Edmunds Used Vehicle Market Report.
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Small and large pickups were among the top performing segments in January with a 1.1% depreciation rate among two- to six-year-old vehicles sold in auction lanes, according to Black Book.
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The 2017 Chevrolet Bolt EV should retain as much as 39% of its value after three years of retail leasing, which is significantly better than other mainstream competitors, according to ALG.
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