With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
The collaboration promotes safe deployment of second-life use for Xos battery packs nearing end-of-life.
The outlook for the 2020 used market is positive, at least according to three remarketers from three fleet management companies.
Overall used vehicle values, and truck values in particular, were down month-over-month in October, according to Black Book’s latest Used Vehicle Retention Index.
Wholesale values declined 0.3% for model years 2016-2017 and 0.2% for model years 2008-2015 in December.
The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
New-vehicle sales through the first six months of 2017 are expected to be down 2.3%, and high quality off-lease vehicles may be part of the reason why, according to Kelley Blue Book.
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%.
GM announced the company is launching the Factory Pre-Owned Collection as another example of GM’s efforts to earn customers for life.
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