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In January, all model classes showed month-over-month and year-over-year price gains — except full-size SUV/CUVs, according to ADESA. Overall, wholesale used vehicle prices were up 2.8% compared to December and up 6.7% year-over-year.
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The truck segment outperformed cars and luxury car depreciation rates remained high last week, according to Black Book’s Feb. 20 Market Insights report.
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The service from Enterprise Rent-A-Car generated $575 million in loan volume to more than 31,000 credit union members during 2016 — a 15% increase in loan volume compared to the previous year.
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The National Auto Auction Association (NAAA) estimates that its members sold 9.9 million vehicles in 2016, a 6% improvement over the year before, according to Manheim’s 2017 Used Car Market Report.
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On a year-over-year basis, 2017 started the same as all of 2016 — trucks and vans up and cars down, according to Manheim. New vehicles sales into rental declined by approximately 7% in January compared to January 2016.
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Wholesale used vehicle prices in December averaged $10,642, which was essentially flat from the month before but a 3.9% increase over the same period in 2015, according to ADESA. Truck prices were down 0.6% in December.
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In December, the average mileage on rental risk units sold (38,600 miles) was similar to recent months, but it was 13% lower than a year ago, according to Manheim. The Manheim Index for December finished at 124.9, a decline of 0.6% year-over-year.
Read More →A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening.
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Hertz plans to sell its used vehicles through its partnership with Shift, an online used car website that offers customers test drives.
Read More →Wholesale used vehicle prices declined 1% in November, continuing the downward trend that was 0.7% last month, according to Manheim's Used Vehicle Value Index.
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