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New-vehicle sales through the first six months of 2017 are expected to be down 2.3%, and high quality off-lease vehicles may be part of the reason why, according to Kelley Blue Book.
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Wholesale cars that have been depreciating at roughly double the rate of trucks in the past month have stabilized in the past week, according to Black Book’s June 26 Market Insights report.
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Craig Goodman, who formerly served as director of remarking for VRCG Inc., has been promoted to vice president/general manager. VRCG Inc. is a fleet sale and rental consulting company.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
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Used vehicle prices experienced a reversal in May, falling 1.2% from the previous month, according to Black Book.
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Wholesale values for used vehicles reach a record-high of 127.9, while new vehicle sales dropped 2% compared to last year.
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The rate of depreciation among car segments continued to accelerate last week, particularly among mid-size, full-size, and subcompact cars, according to Black Book’s May 29 Market Insights report.
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As the market approaches the tail end of the spring season, wholesale values for both cars and trucks are on the decline, according to Black Book’s May 22 Market Insights Report.
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Used vehicle values increased slightly in April as tracked by Black Book's Used Vehicle Retention Index that measures values of 2- to 6-year old vehicles, according to the company.
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Wholesale market values remain healthy as overall car values continue to increase and truck values remain flat, according to Black Book’s April 25 Market Insights report.
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