Full-size cars finished January with the strongest retention value in a month that saw used vehicles depreciate 1.2 percent, according to Black Book's monthly report.
Last year the depreciation rate on used vehicles reached 12.1 percent, which was lower than the initial forecast. For 2015, depreciation levels are expected to hit 14.5 percent, according to a new report from Black Book and Fitch Ratings.
FLD, Inc. has launched the OnceOVR Pro mobile app, an extension of OnceOVR that was released earlier this year on iTunes, Google Play and Amazon for download at no charge.
Used vehicles fell 12.1 percent in value during 2014, which represented a slight improvement from 2013, which saw a 12.8 percent depreciation, according to Black Book.
The ongoing economic recovery has fueled slightly higher depreciation for medium-duty trucks. It is expected that overall depreciation for 2015 will be 15.5-16.5 percent.
Utilities in Texas or Pennsylvania looking to expand or replace their existing fleets will have two opportunities in the month of January. The auctions will be held Jan. 29 and 31.
A Texas plumber's Ford F-250 has found a second life as a vehicle used on the front lines of the Syrian Civil War.
The Chrysler Group has changed its official name change to FCA US, the company announced on Dec. 16.
The full-size pickup fleet segment depreciated by only 4.9 percent over the past 12 months; however, this rate is unlikely to continue into 2015.
The used full-size van market has remained strong throughout 2014, but it is expected to decline in 2015. Part of the reason for the strength of the used van segment is the discontinuation of traditional U.S.-style vans by OEMs as the new European-style vans are released.
The average price of a used vehicle fell 1.9 percent in November from the prior month led by steeper-than-expected declines by full-size pickups, according to Black Book.
The vehicles should finish the year as the only category that will increase in residual value, while the broader market should depreciate more than 12 percent.
In 2015, the Toyota Tacoma pickup truck wins a 14th straight residual value award with the Toyota Tundra winning its fourth consecutive award. Additionally, the Chevrolet Tahoe and Ford Transit Connect were among the eight vehicles that earned RVAs for the first time.
Domestic cars lost the most in value at 3.2 percent among vehicles from the 2009-2013 model-years, while domestic trucks lost 2.1 percent. Compact pickups and full-size passenger vans and full-size cargo vans showed the most strength.
Fleets in North Carolina, Oregon, and New York looking to expand or replace their existing fleets of heavy equipment including utility vehicles have more than 1,500 items to choose from in the month of November.
As vintage Chevrolet trucks increase in popularity with enthusiasts, more trucks are going up for auction and sale prices for the most coveted trucks keep increasing. As we look back at 100 years of Chevy truck history, here’s a gallery of the nine most expensive Chevrolet trucks sold at Barrett-Jackson auctions to date. Photos courtesy of General Motors.
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