The discounts had an immediate impact on one of the largest fleet owners of Tesla vehicles, at least on paper.
With a lack of used vehicles and rental units returning to market, demand continues to outweigh supply. When will the market come back down to earth?
Overall used vehicle values are at strong levels. Crossover values are holding steady but there is cause for concern in the near future. Sedan values are expected to improve or stabilize as more crossovers enter the market.
Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
While luxury vehicles continue to struggle, overall vehicle values held steady last week, according to Black Book’s Oct. 8 Market Insights report.
The hottest segment today is facing a glut of models and volume in tomorrow’s wholesale market.
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.
Toyota, Porsche, General Motors and Subaru were some of the big winners in Kelley Blue Book’s 2017 Best Resale Value Awards, annual awards that recognize vehicles expected to best retain their value over the first five years of ownership.
Car rental companies are migrating to vehicle segments with better residual values, though not without bumps in the road.
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