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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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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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The average wholesale value of cars and trucks saw little depreciation last week, as lane activity has increased as a result of the recent hurricanes, according to Black Book’s Sept. 25 Market Insights report.
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In the car segment, luxury and sporty cars decreased the most in value last week, while mid-size vehicles showed a slight increase in value
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Manheim Wilmington is the fourth permanent Manheim location in North Carolina. Manheim built the two-lane facility through a partnership with D&C Mitsubishi.
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While the effect that Hurricane Irma had on Insurance Auto Auction's and Copart's operations in Florida was relatively mild, Houston was a different story.
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