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Used vehicles model years 2007-2011 overall depreciated -1.4% in July, slightly more than the -1.3% pace in June and -1.0% level in May. Domestic cars depreciated -1.5%; import cars were -1.4%; domestic trucks were -1.4%; and import trucks were -1.3%. Average pre-recession depreciation is historically between -1% and -2% monthly.
Added by John Sternal on August 14, 2013 at 3:00pm — No Comments
Extended warranties for automobiles have been a source of financial pain and frustration for years. Poised to reshape the way people protect their vehicle investments, ForeverCar.com has officially launched as a new company that promises a simple, transparent process offering affordable, top-tier coverage that's as close to bumper-to-bumper as consumers will find in the market.
Backed by a Fortune-500 company, ForeverCar.com was developed by a…Continue
Added by John Sternal on July 24, 2013 at 2:08pm — No Comments
A new survey from national car lease marketplace Swapalease.com reveals new insight into the difference in how men and women view a car lease. Swapalease.com, the nation’s largest car lease marketplace, conducted an online poll of 700 drivers during May. While the results show women have been reluctant to lease in the past, that trend may change in the coming years.
According to the results, 42.2% of women said they had never leased a car,…Continue
Added by John Sternal on July 23, 2013 at 2:41pm — No Comments
Here is the latest Used Car Market Report data from Ricky Beggs and Black Book. What a week it has been around the wholesale markets. In a traditional time of the year with a more passive buyer and generally increasing depreciation of values levels, the activity across the country within the auction lanes indicates a better than expected market. Although there were also comments of some no sales in some lanes, the primary comments from the Black Book…Continue
Added by John Sternal on July 22, 2013 at 9:12am — No Comments
Edmunds.com issued a report showing that current lease penetration (25%) is on pace to eclipse last year’s totals (22%). Swapalease.com also conducted a car shopping survey that recently asked drivers across the nation if they plan to lease their next vehicle. Roughly 66% of the 700 nationwide respondents said they’re “extremely likely” or “likely” to lease their next vehicle. Interestingly enough, of those who participated in the survey, 60.7% are not leasing their current…Continue
Added by John Sternal on July 17, 2013 at 1:48pm — No Comments
Black Book Lender Solutions analyzed historical vehicle segment data and has developed projected retention levels for the next 12 to 24 months. Below is the breakdown of projected retention across all 24 segments, with analysis of the segments expected to outperform and underperform.
Pickups Remain Strong
Compact, Mid-Size and Full-Size Pickups have all enjoyed strong retention during…
Added by John Sternal on July 16, 2013 at 5:00pm — No Comments
Here is the latest used car market report from Ricky Beggs and Black Book. If the overall auction activity is an indication there were plenty of empty holes to fill back at the lot. Even with several survey personnel and editor reports indicating the “best crowd in several months”, bidding just to be the last bidder at any price was not the case. Quite a few reports indicated buyers were “slightly selective”.…Continue
Added by John Sternal on July 15, 2013 at 1:00pm — No Comments
National car lease marketplace Swapalease.com reports its latest lease customer credit approval information, with positive trends continuing into the halfway mark of 2013. According to data from Swapalease.com, the year-to-date credit approvals rate recorded at the end of June was 73.9%, down just slightly from 75.3% approvals in May.
Swapalease.com considers a healthy rate when credit approvals reach 70% of all applications. Credit is extremely important in car leasing, and…Continue
Added by John Sternal on July 10, 2013 at 2:01pm — No Comments
We hope you had a fantastic holiday and are ready for a full week of auction activity, wholesale transactions and retail sales. From the joys of celebrating America’s birthday, please take a moment to remember the hero firefighters in Arizona and their families.
Overall Used Car Market
It was a short week within the market but there is still plenty happening that may have an impact on your business. The auctions that…
Added by John Sternal on July 9, 2013 at 6:43am — No Comments
Here is the latest used car market report from Black Book and Ricky Beggs. As we track and report the used market values there is one piece of information that doesn’t come from an electronic data feed or from individual sales data gathered by the Black Book survey personnel. This is the direct insight we glean as we have numerous one-on-one conversations with auctioneers, individual buyers and sellers and various remarketers, while we as editors attend the physical auctions. We almost look…Continue
Added by John Sternal on July 3, 2013 at 8:22am — No Comments
Here is the July specialty market report from Black Book. As we start the second half of 2013 the activity within the specialty markets is continuing to gain strength in the activity taking place and especially within the medium and heavy duty trucks and commercial trailers. Even though supplies are still somewhat limited within the motorcycle and powersports and the recreational vehicle, mostly due to low…
Added by John Sternal on July 2, 2013 at 2:48pm — No Comments
Black Book is proud to announce that Tom Cross, President, was honored as the newest member of the prestigious Ring of Honor for the National Independent Automobile Dealers Association (NIADA). The award was presented at the National Leadership Awards Banquet during the annual NIADA Convention and Expo in Las Vegas on June 26.
Cross has led Black Book as President since 2007, and he becomes the 23rd industry…Continue
Added by John Sternal on July 1, 2013 at 12:45pm — No Comments
Here is the latest used car market report from Black Book, with the results of the market from the more conventional lanes. When looking at the overall change, both cars and trucks have larger average segment declines for the week. The cars declined only slightly more at -$37 this past week compared to the -$33 the previous week. Some of the individual segments with the largest declining amounts two weeks ago were some of the smaller declining levels this past week. One of the more often…Continue
Added by John Sternal on June 19, 2013 at 12:05pm — No Comments
In a nationwide survey to more than 3,000 leasing drivers, only 12.5% of respondents feel Lincoln is very desirable, while 9% feel the same way toward Volvo according to data compiled by Swapalease.com. Participants were asked to rank their perceptions of certain luxury-type brands including Jaguar, Land Rover, Porsche, Infiniti, Lincoln and Volvo. Porsche scored the highest, with…
Added by John Sternal on June 13, 2013 at 7:33am — No Comments
Here is the latest used car market report from Black Book and Ricky Beggs. It has been a busy week for the Black Book Editorial team as a couple of us had the opportunity to get behind the wheel of several new models, gathering insight that will assist us in both the new vehicle residual projections and eventually the valuations as used…
Added by John Sternal on June 11, 2013 at 2:25pm — No Comments
The penetration of hybrid and plug-in cars is growing, but ever so slightly. The primary driver today is as much related to the CAFÉ standards causing manufacturers to step forward with these new products, as it is related to pure consumer interest and demand. With there now being over forty hybrid-related offerings and another dozen plug-in vehicles, the overall volume is growing. According to…
Added by John Sternal on June 7, 2013 at 2:08pm — No Comments
Lease prices for vehicles on the road showed a mixed bag in May according to listings recorded by national car leasing marketplace, Swapalease.com. Yesterday’s Experian Automotive Finance Report shows leasing at 27.5% and at the highest level since 2006. What are people currently paying on their…Continue
Added by John Sternal on June 5, 2013 at 2:19pm — No Comments
Here is the latest used car market report from Black Book. It was an interesting week within the auction lanes. As we looked at the commentary provided by the Black Book survey personnel who spend time on the lanes every week, they were pointing out the interest and demand for SUVs and smaller cars. Another pointed out the need for trucks and their limited offerings. A third even mentioned the focus from many buyers the desire to purchase 3 to 4 to 5 year old…Continue
Added by John Sternal on June 4, 2013 at 2:04pm — No Comments
Here is the June edition of the Black Book specialty markets report. The most recent monthly activity with all four specialty markets is showing some of the better retention levels since the first part of 2013. The improving overall economy and especially for the medium and heavy-duty truck market, the signs of construction, both residential and commercial, are…
Added by John Sternal on June 3, 2013 at 2:30pm — No Comments
Here is the latest used car market report from Black Book and Ricky Beggs. The car market average segment change was right in line with the previous four weeks at -$43. The segment with the smallest depreciating change for the week was…
Added by John Sternal on May 28, 2013 at 2:00pm — No Comments