MANAGING 10-50 COMPANY VEHICLES
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.