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Black Book's ValuEngine batch processing tool now offers Enhanced Vehicle Matching, a more precise VIN-level valuation tool powered by machine learning and natural language processing.
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A steady supply, thriving shipping market, and increased demand helped stabilize wholesale values going into 2019.
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Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.42% last week. In comparison, the market values decreased by 0.58% on average during the prior four-week period.
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Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
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Wholesale values declined 0.3% for model years 2016-2017 and 0.2% for model years 2008-2015 in December.
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The average 12-month depreciation through the end of November for all vehicles was 12.5%.
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The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
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While luxury vehicles continue to struggle, overall vehicle values held steady last week, according to Black Book’s Oct. 8 Market Insights report.
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Economic growth and positive consumer sentiment helped drive June’s depreciation rates to the lowest levels seen in five years, according to Black Book.
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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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