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Medium-duty trucks at auction have had a shaky start to 2017, with both volume and pricing down compared to the same time last year, according to NADA Used Car Guide’s March 2017 Commercial Truck Guide Industry Update. However, with a boost in demand expected in the latter half of the year, medium-duty trucks should finish off this year in better shape than in 2016.
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The vehicle depreciation rate will reach 17.8% in 2017 on 17 million new-vehicle sales, slightly higher than the 17.3% mark recorded in 2016, according to latest forecast from Black Book and Fitch Ratings. Prior to the Great recession, annual depreciation trended between 16% and 18%.
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A record number of newer model year off-lease vehicles returning to dealer lots this year will be putting significant upward pressure on the late-model used market, according to the February 2017 Edmunds Used Vehicle Market Report.
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Small and large pickups were among the top performing segments in January with a 1.1% depreciation rate among two- to six-year-old vehicles sold in auction lanes, according to Black Book.
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By implementing one or two new strategies — such as timing sales based on mileage or seasonality, expanding sales channels, or considering purchasing options — small fleet operators can return more money to their fleet’s bottom line.
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The depreciation rate for cars is expected to outpace trucks and vans, which will be aided by strong demand from small fleet buyers.
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Remarketing commercial trucks online can save fleets time and money typically spent transporting trucks to physical auctions.
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After a steeper decline to start 2014, depreciation is expected to settle into the range of 1% to 1.5% per month for the rest of the year.
Read More →Fleet Professionals have to not only be able to please executives, but also adhere to the company's bottom line when managing an executive fleet.
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To get the most value from a used truck, fleet managers looking to auction their units should do a little research and be thoroughly prepared.
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