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Surprice Opens Two Rental Branches In Japan
The launch highlights the global car rental operation’s growing presence in Asia.
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SEARCHMENUSEARCHThe launch highlights the global car rental operation’s growing presence in Asia.
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Wholesale used vehicle prices rose for the sixth month in a row in October, increasing by 1.02%, according to Manheim’s October Used Vehicle Value Index. This brought the index to 136.3, an 8.1% rise from a year ago.
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Both cars and trucks saw a noticeable rise in depreciation last week, according to Black Book’s Nov. 6 Market Insights report.
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The firm attributed the strong vehicle retention in October to increased replacement activity stemming from Hurricanes Harvey and Irma. However, the increased replacement activity seen in October is expected to be the last boost to come from the hurricanes.
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Average wholesale values saw little change last week compared to the week before it, with depreciation falling in both the car and truck segment, according to Black Book’s Oct. 30 Market Insights report.
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Depreciation trends for both car and truck segments are seasonally lower than what is normally expected this time of year, according to Black Book’s Oct. 23 Market Insights report.
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The average price of used vehicles model years 2012-2016 fell 0.7% in September, with the lion’s share of that depreciation coming from the car segment, according to Black Book. As of September, all vehicles are averaging a 12-month depreciation of 14.5%.
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Wholesale used vehicle prices rose 2.77% in September on a month-over-month basis, which drove Manheim’s Used Vehicle Value Index up 6.3% from a year ago to 134.9, marking five months of consecutive growth.
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Black Book’s Used Vehicle Retention Index increased from 112.6 to 113.9 in September, the largest month-over-month gain since March 2012, according to a company announcement.
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The recall, set to get under way Nov. 7, covers more than 646,000 vehicles in the 2011 to 2014 model years.
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Pickup trucks have seen a surge in consumer interest in the aftermath of Hurricane Irma and Harvey, according to Jumpstart Automotive Media.
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