by Jon LeSage, editor of Used Car Market Reports
Here’s 10 of the top used/pre-owned/remarketing trends gleaned from this week’s Used Car Market Reports:
- Ricky Beggs and the Black Book team saw that there’s been more activity lately in rental and fleet/commercial lanes than in dealer lanes.
- Black Book also saw a lot more offerings in late model, rougher condition vehicles in the lanes.
- Cars continued to soften and trucks continued to improve in value.
- Commercial vehicles had a major announcement from Polk – used truck registration increased 9% in the first half of this year versus only 1% for new truck registrations.
- Polk also found used transactions during 2nd quarter of 2013 calendar year were highest since 2nd quarter of 2011 calendar year, reflecting continued demand for clean used equipment.
- Kelley Blue Book predicts that new vehicle sales will hit 15.6 million in SAAR in August.
- Wholesale values have remain strong for the month, even though lease volume is up.
- The average price of late-model used cars increased just $15 in August to $22,193, a gain of less than a tenth of a percent compared to July, according to Cars.com.
- Luxury vehicles saw the biggest numbers on both prices increases and decreases, according to Cars.com. Infiniti QX56 and BMW 528i led increased with prices edging up 2%.
- Mid-size cars was the largest segment in three leading used market states (California, Florida, and Ohio) and pickups led the way in Texas during July. This comes from Cross-Sell’s “Snap Shots” report.