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Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
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Vehicle depreciation accounted for 32.9% of the total cost of ownership over the past 12 months, which continues a three-year trend of declining depreciation costs, according to a new study from Motus.
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In the month preceding the start of the Spring season, trucks continued to show the resilience they've shown in past months. A few key segments showed particular strength and luxury vehicles continued to struggle.
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A steady supply, thriving shipping market, and increased demand helped stabilize wholesale values going into 2019.
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Wholesale luxury car and compact van values declined during a week where overall depreciation remained fairly stable.
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This growth was in large part fueled by the strong performance of lower-priced vehicles. Compact cars and midsize cars, in specific, saw the strongest growth among all vehicle segments and outperformed the overall market.
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Subcompact crossovers, compact luxury crossovers/SUVs, and compact vans fell by 1.78%, 1.61%, and 1.55% last week, representing the highest depreciation among all vehicles.
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The two months of falling vehicle values may be an indicator of what depreciation might look like in 2019.
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After several weeks of rising depreciation, vehicle values stabilized last week.
Read More →For the third year in a row — and fourth overall — Toyota has earned Kelley Blue Book's overall Best Resale Value Award for mainstream brand.
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