The average price of a used vehicle for model years 2011-2015 depreciated 1.7% in June, according to Black Book. On a year-over-year basis, these vehicles fell 15.4% in value.
Over the last four weeks, depreciation rates for both cars and trucks have begun to show some consistency, according to Black Book, with truck depreciation picking up from the spring season.
Black Book's distribution agreement with Gauss Digital Marketing will help expand the footprint of its new Bullseye Prospecting solution, a turnkey platform for dealer marketing campaigns.
The forecast shows that residuals on an average three-year-old vehicle will dip from the current three-year retention of 52% in 2016 to 47.8% by 2019. Increased used supply in the marketplace is the main culprit of slipping retention rates this year, the firm said.
Black Book's distribution agreement with HP360 will help expand the footprint of its new Bullseye Prospecting solution, a turnkey platform for dealer marketing campaigns.
Black Book announced today it is now the exclusive provider of vehicle valuation data for Auction Simplified, an online auction service that allows dealers to instantly make vehicle inventory available to wholesale buyers.
The acceleration in vehicle depreciation during the first quarter points to the market reaching the peak of spring, Black Book said this week. While many segments saw noticeable spikes in depreciation, the firm noted, some segments experienced increases in value during the quarter.
Black Book's distribution agreement with ProMax will help expand the footprint of its new Bullseye Prospecting solution, a turnkey platform for dealer marketing campaigns.
In an automotive climate where dealer profits are shrinking and vehicle advertising costs remain high, Black Book's new solution aims to reel in advertising campaign costs to help dealers maintain profitability.
In a joint report issued this week, the two firms said increased supply and incentives will drive higher depreciation in 2016. Auto ABS performance will face pressure, but no material concerns, the firms say.
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