The outlook for the 2020 used market is positive, at least according to three remarketers from three fleet management companies.
In the month preceding the start of the Spring season, trucks continued to show the resilience they've shown in past months. A few key segments showed particular strength and luxury vehicles continued to struggle.
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.
Economic growth and positive consumer sentiment helped drive June’s depreciation rates to the lowest levels seen in five years, according to Black Book.
The hottest segment today is facing a glut of models and volume in tomorrow’s wholesale market.
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.
Taking in the seminars, discussions, and networking at the 2016 Auto Rental Summit, trend lines emerged around shifts in model mix, data protection issues, increasing labor costs, workforce engagement, and new platforms to rent cars.
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