Hot August: Subcompacts Lead 1.4% Gain in Retained Values
Black Book’s Used Vehicle Retention Index shows a 1.4% month-over-month increase in August, a month in which all but a few pre-owned segments showed improvement.
Retained values for subcompact cars such as the Toyota Yaris increased by 2.1% in August, setting the pace for improvements in most categories after a largely flat July.
Photo courtesy Toyota Motor Sales USA
LAWRENCEVILLE, Ga. — Black Book (div. Hearst) released its Used Vehicle Retention Index for August (116.6), reporting a 1.4% change from July (115.0).
“The strength of used market was fairly broad in August with almost all vehicle segments registering an increase in the Index. Sub-Compact Cars Index showed the highest increase at 2.1% MOM, highlighting the demand for affordable vehicles,” said Anil Goyal, the firm’s executive vice president of operations. “Near Luxury Cars Index is also showing a bounce off the lows now after declining for the last five years.”
Black Book’s Used Vehicle Retention Index is calculated using Black Book’s published Wholesale Average value on two- to six-year-old used vehicles as a percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition.
To read the August report, click here.
More Auto Finance
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →