Fuel Prices Up Slightly in August 2015
- Fuel prices finished the month of August at an average of $2.61 per gallon, just 6 cents higher than the $2.55 average in July 2015.
“Despite the 63-cent increase in the price per gallon of fuel since January, fuel prices have been relatively stable over the summer months,” said Sean Foyil, analyst for Kelley Blue Book. “The average price for fuel between June and August is $2.64 per gallon, just 3 cents higher than today’s average. his comes as no surprise, as summer months tend to bring less overall fluctuation in the average price for fuel. Additionally, based on historical trends and curwe expect fuel prices to continue to trend lower moving into 2016 as we close out the year.”
Auction Volumes Continued to Rise in July 2015
- Volume in the auction lanes lifted in July, increasing more than 23,000 units, or 5 percent above June figures.
- For the second quarter, auction volumes peaked in April, followed by a notable 15 percent drop in May. Despite the decrease, auction volumes have been steadily increasing since June, up more than 58,000 units in total.
- In August, Kelley Blue Book field analysts reported seeing approximately a 25 to 30 percent decrease in auction volumes for General Motor vehicles as well as German manufacturers BMW and Mercedes-Benz. The decrease in the volumes for these manufactures likely is due to the holding of inventory in an effort to not oversaturate the market with vehicles in an effort to maintain vehicle value levels. Conversely, field analysts have reported a spike in Land Rover vehicles throughout the auction lanes this past month, which may be linked to an oversupply in inventory of particular models at the moment.
Vehicle Value Decline Slows in August 2015
- The decline in vehicle values slowed even further in August for 1- to 3-year-old used vehicles.
- The average vehicle value declined 1.4 percent, or $250, in August compared to that of 2.6 percent and 2.2 percent in June and July, respectively.
- Sports car, high-end luxury and high-performance car segments made up the worst-performing segments – with 3.3 percent, 3.2 percent and 2.9 percent declines, respectively. Mid-size truck, full-size truck and hybrid/alternative energy segments gained the most, moving 0.5 percent, 0.4 percent and 0.2 percent, respectively.
- It’s no surprise that the pickup truck segments remain the top performing segments this month, as they have been some of the best performing segments since the start of the year. Despite a mere 1.5 percent increase in total construction spending between May and June, from a year-over-year perspective, construction spending is up roughly 12 percent, which greatly benefits the truck segments.