J.D. Powers analysts found prices for used trucks remain high as volume levels dropped, while retail prices continue to hold steady as well.
The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
Used vehicle prices experienced a reversal in May, falling 1.2% from the previous month, according to Black Book.
Used vehicles increased 0.4% in value in April, as buyers boosted the value of smaller cars, which have begun to shrug off several years of heavier declines, according to Black Book.
A record number of newer model year off-lease vehicles returning to dealer lots this year will be putting significant upward pressure on the late-model used market, according to the February 2017 Edmunds Used Vehicle Market Report.
Small and large pickups were among the top performing segments in January with a 1.1% depreciation rate among two- to six-year-old vehicles sold in auction lanes, according to Black Book.
By implementing one or two new strategies — such as timing sales based on mileage or seasonality, expanding sales channels, or considering purchasing options — small fleet operators can return more money to their fleet’s bottom line.
Used vehicle values from the 2010 to 2014 model years fell 0.5% in May from April levels with cars showing a slightly higher depreciation rate than trucks, according to Black Book.
The average residual value of a three-year-old vehicle — the most commonly remarketed fleet vehicle — will fall 8% by 2019 as a result of an increase in the supply of used vehicles, according to a Black Book forecast.
Used vehicles depreciated an average of 3.6% in the first quarter compared to 0.6% in 2015 in a signal of sharper depreciation, but values improved in March over January and February levels, according to Black Book.