Black Book: Weekly Market Report
Values aren’t showing any signs of slowing down, with most expecting this strength to last through the traditional Spring selling season.
Values aren’t showing any signs of slowing down, with most expecting this strength to last through the traditional Spring selling season.
Highlights include a significant spike in dealership profits and skyrocketing demand from dealership groups that want to acquire more stores.
The Rivian value debate demonstrates how investors can be split into two categories: those that make decisions based on recognizing future themes and those that invest based on traditional financial performance metrics
Calendar year 2021 has not had typical seasonality patterns as the market has had rapid increases in wholesale values for the majority of the year.
Fed Chair Jerome Powell has said the committee plans to complete tapering before raising rates, and markets are targeting June as the possible date for the next rate hike.
We have now had ten consecutive weeks of wholesale value increases, during a time that traditionally experiences large week-over-week declines.
Advanced Driver Assistance Systems equate to loss cost reductions, underscoring the need for VIN-level feature information to improve policy rating.
The seasonally adjusted Retention Index increased to 180.2 points, continuing to hit records.
The fourth quarter is traditionally when the market experiences most of the yearly depreciation, but after just one month in the quarter, values are reporting appreciation of more than 3.0%.
The average price of a new car hit $45,000 in September and reached $25,000 for the average used car, according to Kelley Blue Book.
NADA economist forecasts supply chain challenges, including the chip shortage, will persist well into 2022.
High demand amid limited new vehicle inventory has driven up used vehicle prices. But it’s also impacting the rate their values are depreciating.
Lease credit approvals reached 67.6% in September; Down from 71.3% in August, according to Swapalease.
The lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
Letter penned by Canadian Trade Minister Mary Ng suggest proposed EV tax credits will harm North American auto industry and violate trade agreements.
Experian’s Q4 auto finance report lists America’s top 10 lease vehicles by market share, including one domestic SUV that captured nearly 4% of all new leases at the end of 2018.
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