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'Typical' Annual Depreciation Reaches 12%: Black Book
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
MANAGING 10-50 COMPANY VEHICLES
MANAGING 10-50 COMPANY VEHICLES
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
Ford and Toyota had the most models named as having the best certified pre-owned value among 37 segments by Vincentric, the vehicle valuation firm announced.
Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.
Six pickup trucks made the top-10 list of vehicles that retain the highest percentage of their value after a five-year ownership period, along with two Jeeps, a Subaru, and the Toyota 4Runner. At the other end of the spectrum, the Nissan Leaf saw the highest depreciation over the same period.
While luxury vehicles continue to struggle, overall vehicle values held steady last week, according to Black Book’s Oct. 8 Market Insights report.
Edmunds is forecasting 1,392,434 new vehicles sales through September, representing a 5.4% decline from March and an 8.3% decline from the same time last year.
Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
More SUVs, the retention of higher mileage vehicles, and new methods of remarketing are some trends fleets are observing in the wholesale market.
TradeRev started as a dealer-to-dealer mobile app, but has expanded its offerings to give more real-time auction access to commercial fleets and fleet management companies.
Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
Vehicles that were taken out of commercial, government, and daily rental fleets and sold at auction in July were worth 8.1% more than they were a year ago and 0.4% more than in June, according to Tom Kontos, KAR Auction Services' chief economist.
Economic growth and positive consumer sentiment helped drive June’s depreciation rates to the lowest levels seen in five years, according to Black Book.
Off-lease fleet vehicles sold in the wholesale market at auction fell 1% in value in June from the prior month but increased 7% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
As vintage Chevrolet trucks increase in popularity with enthusiasts, more trucks are going up for auction and sale prices for the most coveted trucks keep increasing. As we look back at 100 years of Chevy truck history, here’s a gallery of the nine most expensive Chevrolet trucks sold at Barrett-Jackson auctions to date. Photos courtesy of General Motors.
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