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GAINESVILLE, GA - Black Book reported overall car and truck segments continued to dip last week, with "buyers less willing to pay asking price."
Read More →GAINESVILLE, GA - For the first time since the week ending May 15, total truck segments were down, according to Black Book.
Read More →GAINESVILLE, GA - The last three months have exhibited a consistent trend in increased values for used cars, reported Black Book.
Read More →GAINSVILLE, GA - Lack of new-car inventory is one factor in the continued demand for "nice, late-model used inventory," Black Book reported.
Read More →GAINESVILLE, GA - All 10 car segments gained in value for the second time in the past three weeks, according to Black Book.
Read More →TROY, MI – SmartAuction, a wholesale remarketing Web site, reports it has achieved record sales of Avis Budget Group vehicles during the first quarter of 2009.
Read More →Wholesale used-vehicle prices during fourth quarter 2008 were the worst on record. Since then, wholesale prices rose significantly in January through March. The improvement in pricing in 1Q 2009 reflects better-than-expected retail sales of used vehicles. Resale values for mid-size sedans are substantially higher than in 2008, as are prices for light-duty trucks and SUVs. However, consumer confidence and credit availability remain two wildcards to the market's ongoing vitality.
Read More →We are currently in the midst of the worst used-vehicle market in the past 25 years. Year-over-year prices declined every month in 2008; however, wholesale prices did improve the first 10 days of January. Despite this, many fleets now find that the depreciation rates established 24-36 months ago are insufficient for today's resale market. In many cases, resale values of fleet vehicles are significantly below the remaining book value. Here's a forecast for what lies ahead in the wholesale market.
Read More →October was an extremely difficult month to remarket vehicles in the wholesale market as resale prices took a precipitous drop. Wholesale pricing, based on mixed mileage and seasonally adjusted, declined a record 6 percent in October. The lack of credit to both dealers and retail buyers has been the key catalyst contributing to the downturn in the wholesale market. The market forecast is gloomy until the credit gridlock is resolved.
Read More →When resale prices soften, there is a pendulum-like resurgence in marketing used vehicles to employees. On the other hand, when the resale market is strong, fleets are complacent about employee sales (waiting for buyers come to them) and do not aggressively market the program to new buyers. The national average of vehicles sold to employees is 23 percent. However, by aggressively marketing employee sales, many fleets could sell as much as 50 percent of their vehicles in-house.
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