Black Book: Truck Values Down More than Cars, RVI: Forecasts Price Decline January 7, 2016
Anil Goyal

Segments Were Down in Value While Holiday Demand Stayed Strong

Anil Goyal
VP of Automotive Valuation and Analytics
Black Book

All vehicle segments saw value depreciation last week, yet the sales volume stayed up. Auction activity stayed up considering the holidays. It may be an indication of a strong year starting up at the auctions. Volume-weighted, overall truck values decreased slightly higher than cars – at 0.36% down for trucks versus 0.33% down for cars values.

See Market Insights which includes specialty vehicle reports

Prestige Luxury Remained Relatively Stable – Only Car Segment to See Stability:
Near Luxury Car segment had largest change for cars at 0.63% decrease from last week.

Mid-Size CUV and Mini Cargo Van Had Largest Weekly Depreciation Rates:
Segments declined at -0.75% and -0.84%, respectively.

Gasoline Prices Went up to $2.034 Last Week, $0.265 Below Last Year:
Diesel prices were higher at $2.235, $0.978 below this time a year ago.

RVI Forecasts Price Decline Coming Up in 2018

Rene Abdalah
Vice President, Passenger Vehicle
RVI Group

RVI forecasts used vehicle prices should fall 4.9% from current their current pricing levels by 2018. That residual value decline will come from increased supply, greater competition, and higher incentives. Increased supply will come mainly from off-lease vehicles that come back to market. Leasing will continue to increase in new vehicle sales through 2018.

Here’s the latest edition of RVI Risk Outlook

Nominal Used Vehicle Prices Increased 1.6% from October:
Nominal (seasonally adjusted, 2-5 year old vehicles) up 3.9% Y-O-Y.

Real Used Prices (After Adjusting for MSRP) Up 1.9% from October:
Compared to November 2014, real used vehicle prices were down 1.6%.

Canadian Real Used Car Prices Increased 8% Over November 2014:
Growing supply and condition of monetary exchange rate will lead to price decline.
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