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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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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 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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Wholesale used vehicles had their best weekly performance in two months, according to Black Book’s Sept. 11 Market Insights report.
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Wholesale used vehicle prices — on a mix-, mileage-, and seasonally adjusted basis — increased 0.75% month-over-month in August, bringing the Manheim Used Vehicle Value Index to a record high of 131.3.
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