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The index’s rise in June was due in large part to falling gas prices, which helped drive the sale of used trucks, crossovers and SUVs. The downside of falling gas prices was the continued acceleration in depreciation for subcompact and compact cars.
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According to an online survey conducted by Black Book, 46% of the 2,100 consumers polled said getting the right trade appraisal was either ‘very important’ or ‘extremely important’ to pulling the trigger on a vehicle purchase.
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NsightLive is a content engagement company that delivers leads to dealers through its Live content platform. With Black Book’s trade appraisal engine, the company now offers independent dealers an online trade appraisal tool.
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High demand for pre-owned vehicles resulted in increased values, with 13 out of the 22 vehicle segments registering increases in average value, the firm reported.
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Since registering a score of 125.9 in May 2015, the firm’s Used Vehicle Retention Index has fallen steadily. Last year, it dropped by 6.4%. In March, the index fell from February's 113.9 to 113.
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Delinquencies are rising and auto finance sources are responding. But the editor wonders if there’s something else at play.
Read More →The vehicle valuation firm reported today that the average used vehicle for model years 2011-2015 depreciated slightly 0.6%. Cars overall recorded depreciation of 0.3%, while trucks registered depreciation of 0.8%.
Read More →Both cars and trucks realized a healthy seasonal boost in wholesale performance last week, with both segments retaining their values better than they have in the past six months.
Read More →This week’s Black Book Market Insights report shows the car segment retaining its value better than the truck segment as a whole. However, compact vans saw their values strengthen by 1.17%, outperforming all other vehicle segments.
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Luxury vehicles continued to struggle last week, leading all segments in terms of depreciation. The other big story was the performance of cars, which continued to retain their values better than trucks.
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