This year, Ford and Toyota pickup trucks were awarded top honors in their respective categories.
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Toyota, Ford, and GMC topped the list for pickup truck resale values.
Trucks have shown the most strength of any segment with full-size trucks up 3%, while Kelley Blue Book shows midsize pickups rose 6%, aided by new and redesigned models.
Overall truck segments are declining but some truckmakers saw increases of up to 5% due to new 1/2-ton pickups.
New-vehicle transaction prices climbed nearly 3% in February, led by the strength in full-size pickup trucks.
One tactic that OEMs are leveraging in order to offset some of this growth is the use of incentives.
The underlying strength of trucks is best represented by the mid-size truck segment, which, despite no new products, saw prices climb 3%.
Prices in both full-size and mid-size truck segments were up 4%, and it is shaping up to be a pivotal time for pickups.
Analysts at Kelley Blue Book reported that average values for one- to three-year-old pickup trucks have remained strong as a result of high demand at auction, despite fuel prices peaking in December 2016.
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