Week over week, the #usedcar and #usedtruck segments saw the largest drop in values since late 2022.
Overall, the market adjusted by -0.73%. This was more than the -0.47% depreciation from the week before and more than double the depreciation from an average, pre-COVID year.
When reviewing the car segment, Black Book data revealed that Luxury Cars saw the largest dollar and percentage adjustment, at $213 and -1.10% respectively. Sporty Cars, due to the summer weather throughout the US, saw the lowest amount of depreciation from a percentage standpoint.
“The 0-to-2-year-old Car segments were also down, but only by – 0.53%; 8-to-16-year-old Cars declined -0.63%” Black Book
As for used trucks, Compact Luxury Crossover/SUV had the largest percentage adjustment, at -1.34%, while Full-Size Luxury Crossover/SUV had the highest dollar loss, at almost $250! From a #fleet standpoint, hard to find Compact Vans saw the lowest amount of depreciation, at just -$17 or -0.13%.
“Small Pickups increased the rate of depreciation substantially last week, down -0.99%, compared with -0.45% the week prior.” Black Book
Two other KPIs Holman follows closely, Days-to-Turn and Weekly Sales Rate, are below. According to Black Book, both are troubling and show signs of slowing down with inventory sitting on dealership lots causing less than 50% sale rates at auctions.
While the market is nothing like it was last year, your used vehicles are still desirable, but to the right buyer. When working with Holman, you have access to the widest selection of outlets, both physical and virtual, which allows for unmatched exposure to each vehicle you are selling. Holman also has solutions that eliminate market risk, lower costs, and drive what success means to your organization.
If you have any questions about market conditions, Holman programs, or specific scenarios, please reach out to michael.buchanan@holman.com or go to Holman website.
Mike Buchanan
Remarketing Subject Matter Expert
and Sales Manager –
Holman Fleet Remarketing
Thank you, Jared Kalfus, Paul Machin, Laura Wehunt, Alex Yurchenko, Richard Mullen, Matt Renschler, Bobby Thorp and Devin Farley,
Black Book Data Shows Largest WOW Depreciation This Year – Black Book – Remarketing – Credit Union Collections
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