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Used truck prices are holding steady, with supply still dictating pricing. That’s the word from J.D. Power’s Commercial Truck Guidelines for March, which notes that February is the first month in any new year with a high enough volume of used truck auctions to allow analysts to identify market trends.
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Vehicles over 100,000 aren’t depreciating at the same as they used to due mostly to a tight supply of late-model used vehicles, according to Edmunds’ Q3 Used Vehicle Market Report.
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Used vehicles from one to five years old fell 1.4% in value in October in a steady used-vehicle market that showed significant improvement from a year ago with large pickups leading the way, reports Black Book.
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Wholesale used vehicle prices rose for the sixth month in a row in October, increasing by 1.02%, according to Manheim’s October Used Vehicle Value Index. This brought the index to 136.3, an 8.1% rise from a year ago.
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The average price of used vehicles model years 2012-2016 fell 0.7% in September, with the lion’s share of that depreciation coming from the car segment, according to Black Book. As of September, all vehicles are averaging a 12-month depreciation of 14.5%.
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Fleet lease consignor prices moved higher in August, increasing 1.4% over July and 2.3% through the first eight months of the year compared with 2016, according to the Sept. 20 Kontos Kommentary.
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Manheim has updated its vehicle valuation tool, the Manheim Market Report (MMR), to provide more detailed valuations of used vehicles to increase transparency and improve the remarketing process, the company announced.
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The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
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When weighted for volume, the overall truck segment values (including pickups, SUVs, and vans) decreased by 0.08% last week, which is better than the average decrease of 0.21% per week in the previous four weeks.
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“It is expected that we will see more declines in the Index in the months ahead as we move deeper into the year, particularly driven by softness among car segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics for Black Book.
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