Larger cars were more in demand this tax season, potentially as a result of low gas prices and improved overall strength in the broader economy.
Compact SUVs retained the most value in February thanks to cold weather, according to analysts at Black Book. The average price of 2009 to 2013 model year vehicles depreciated by 1.2% during the month.
Vehicle depreciation is expected to increase in 2015 as a larger used-car supply and off-lease volumes place pressure on retention rates, according to a report from Black Book and Fitch Ratings.
As 2014 draws to a close, Black Book expects overall 2014 depreciation for used vehicles to land at -13.5%. Depreciation was slightly less in November compared with October levels.
Depreciation rates on used vehicles are nearing levels not seen since the recession, but the trend is expected to reverse, leading to marginally higher losses for U.S. auto ABS, according to a new joint report from Black Book and Fitch Ratings.
Hybrids retain less of their original value than their non-hybrid counterparts, and steady gas prices and improving fuel economy will make hybrids less appealing to consumers, the NADA reports.
The NADA Used Car Guide’s used-vehicle price index reached a new high in May. But the NADA believes recent trends point to prices tracking back toward the firm’s predicted pricing path for the year.
The NADA Used Car Guide reported this week that wholesale activity steadily returned to normal in April after being impacted by winter storms for much of the first quarter.
Depreciation for used vehicles up to eight years old slowed to 1.1 percent in June, substantially less than what has been recorded for the month historically.
New report from Black Book and Fitch Ratings says rise in vehicle depreciation poses no detriment to U.S. Auto ABS.
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