Automotive Fleet

SEP 2013

Magazine for the car and truck fleet and leasing industry

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Page 27 of 77

REMARKETING Chart 5 DEPRECIATION LEVELS: AUGUST 2012-AUGUST 2013 12-MONTH COMPARISON 3-MONTH COMPARISON Q 8/1/12 Q 8/1/13 Q 5/1/13 Q 8/1/13 20,045 17,146 [-15.5%] 15,000 16,000 17,000 18,000 19,000 20,000 21,000 Average Values ($) SOURCE: BLACK BOOK USA 20,289 Car 18,358 Truck 17,757 [-11.4%] 17,757 [-3.3%] SOURCE: BLACK BOOK USA Truck 17,860 Car 17,146 [-4.0%] 16,500 17,000 17,500 18,000 18,500 Average Values ($) Chart 6 DEPRECIATION LEVELS: AUGUST 2011-AUGUST 2012 12-MONTH COMPARISON 3-MONTH COMPARISON Q 8/1/11 Q 8/1/12 Q 5/1/12 Q 8/1/12 15,000 16,575 [-13.7%] 16,000 17,000 18,000 19,000 Center Average Values Better 20,000 SOURCE: BLACK BOOK USA 19,208 Car 17,716 Truck 17,104 [-10.5%] 17,104 [-3.5%] 17,165 Car 16,575 [-3.4%] 16,000 16,500 17,000 17,500 18,000 Center Average Values Better SOURCE: BLACK BOOK USA 19,117 Truck An improving economy, with construction and the service industries getting busier, has truck retention trending better than cars in the majority of the time periods over the past two years. Chart 7 24 AUTOMOTIVE FLEET I SEPTEMBER 2013 YEARLY DEPRECIATION CHANGE 12-MONTH CHANGE (%) CSU CPT FPT MPT FVC FSU MSU FVW MVC LSU ESC CXU LLC MXU NLC PSC FXU ELC PLC SCC UMC EMC -20% -15% Compact SUV (CSU) - 4.0% ● Compact Pickup (CPT) -4.2% ● Full-size Pickup (FPT) -4.8% ● Mid-size Pickup (MPT) -5.7% ● Full-size Cargo Van (FVC) -10.0% ● Full-size SUV (FSU) -10.4% ● Mid-size SUV (MSU) -10.6% ● Full-size Vans Wagon [Pass] (FVW) -10.6% ● -10% Minivan Cargo (MVC) -12.7% ● Luxury SUV (LSU) -13.0% ● Sport Car (ESC) -13.8% ● Compact CUV (CXU) -13.8% ● Luxury Level Car (LLC) -13.9% ● Mid-size CUV (MXU) -14.7% ● Near Luxury Car (NLC) -15.0% ● Premium Sport Car (PSC) 15.0% ● -5% 0% Full-size CUV (FXU) -15.9% ● Entry Level Car (ELC) -16.9% ● Prestige Luxury Car (PLC) - 16.9% ● Compact Car (SCC) - 17.5% ● Upper Mid-size Car (UMC) -17.6% ● Entry Mid-size Car (EMC) - 20.5% ● Over the past year, the three pickup segments and the compact SUVs declined by less than 6 percent, while the three most fuel-effcient segments tipped the scales on the top level of depreciation. met with new models and inventory while maintaining values at solid levels. Te very mature and solid wholesale channels will keep remarketing eforts on an even keel. Add in the various tools and technology available that tracks, reports, and analyzes the used market from progressive companies such as Black Book and commercial feets will be able to handle the challenges of a changing used market. AF SOURCE: BLACK BOOK USA -25% Table Key fuel-efcient segments, which are not only fghting the competition, but trying to get interest while gasoline prices remain fairly stable and well below record high levels. So, what's ahead for the feet and commercial remarketing industry? Fortunately, the signs of an improving economy are still at the forefront. Te housing, construction, and service industries are the drivers behind improved truck values. Even if gasoline prices increase somewhat, these vehicles will continue to do well. If we are faced with much higher gas prices, and by much higher we mean $5 per gallon and remain at that level, Black Book feels the depreciation of the entry level cars, compact cars, entry mid-size cars, and the upper mid-size cars will be at the low end of depreciation and be some of the more in-demand and popular units. Te two mid-size car segments continue to be a solid portion of the feet market. "Fleet churn" is very active in today's market and, unlike the rental market, commercial feet users are getting their needs

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