The Industry's Leading Source for F&I, Sales and Technology
The integration of Black Book’s data is expected to help Lightspeed EVO users realize stronger profit potential with a more precise valuation process for trade-in motorcycles and powersports vehicles.
The firm’s Used Vehicle Retention Index for September increased by 1.9% from a year ago to 116, with all vehicle segments showing increases. The compact crossovers, mid-size crossovers, compact car, full-size pickup, and mid-size car segments were the main drivers.
Defi SOLUTIONS is the first loan origination platform to include Black Book’s History Adjusted Valuations data feed. Users can now identify undesirable deals prior to the origination process, improve advance amounts, prevent fraud, and use HAV to set floors more accurately when remarketing.
The overall used-vehicle market continues to do very well, bucking the seasonal trends seen in previous years, Black Book reported this week.
Depreciation through the first half of 2018 stood at 13.7%, much lower than the 16.3% rate recorded in the year-ago period. Analysts say upstream remarketing has kept values strong despite the tidal wave of off-lease vehicles that returned to market during the period.
Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.
With the spring selling season now in the rearview mirror, the car segment broke its two-month streak last week of rising wholesale values. Only full-size and sporty cars realized higher wholesale values through the week.
Last week, car segment values were up 0.26% compared to the 0.01% depreciation the segment experienced the week prior. This added up to the strongest week for car segment values in two years.
The spring selling season got off to an early start, leading to a slight month-over-month uptick in the firm’s Used Vehicle Retention Index. The big question is how the harsh weather that has recently struck parts of the country will impact values moving forward.
The firm had expected a steeper decline due to replacement activity linked to last year’s hurricanes. Instead, Black Book saw fairly typical depreciation.