IRVINE, Calif. — Kelley Blue Book www.kbb.com, the leading provider of new car and used car information, reports that vehicles typically found in high volume within rental fleet have appreciated most since the start of the year, as covered in the company’s Blue Book Market Report for December 2011. Kelley Blue Book’s analysis highlights that affordable buying opportunities remain available even in this supply constrained market.
- Dealers to Save More than $2,000 Purchasing Three-Year-Old Highly Fleeted Compacts.
The Kia Rio, Chevrolet Aveo and Chrysler PT Cruiser all increased more than 10 percent in value since January, while vehicles not typically found in rental fleet, including the Honda Civic and Toyota Corolla, are flat on a year-to-date basis due to maintaining relatively high values throughout the year. Used-car values remain at historically high levels so as shoppers continue to seek affordable vehicles, rental fleet provides dealers and consumers a significant value proposition in today’s economy.
“When the market heated up, dealers were looking for budget vehicles that met consumer financial and fuel-efficiency needs and these rental-fleet vehicles offered an incredible value when the market prices were high,” said Alec Gutierrez, manager of vehicle valuation for Kelley Blue Book. “Overall, dealers can expect to save more than $2,000 when purchasing a three-year-old highly fleeted compact, while savings on a fleet-heavy crossover will only yield a modest $500.”
|High-Fleet Compacts $2,200 Cheaper than Segment Average|
|Make||Model||Trim||Auction Value||Vs. $10,000 Segment Avg.|
|Chrysler||PT Cruiser||Sport Wagon 4D||$6,700||($3,300)|
|Dodge||Caliber||SXT Sport Wagon 4D||$8,525||($1,475)|
|Chevrolet||HHR||LT Sport Wagon 4D||$9,350||($650)|
|Chevrolet||Cobalt||LT Sedan 4D||$7,900||($2,100)|
|Note: All values reflect a MY2008 vehicle w/60,000 miles||Average:||($2,210)|
|Make||Model||Trim||Auction Value||Vs. $14,000 Segment Avg.|
|Ford||Escape||XLT Sport Utility 4D||$14,675||$675|
|Jeep||Compass||Sport SUV 4D||$12,325||($1,675)|
|Chevrolet||Equinox||LT Sport Utility 4D||$13,725||($275)|
|Suzuki||Grand Vitara||Sport Utility 4D||$12,050||($1,950)|
|Kia||Sorento||EX Sport Utility 4D||$14,725||$725|
|Note: All values reflect a MY2008 vehicle w/60,000 miles||Average:||($500)|
With the unemployment rate at 8.6 percent and many homeowners still upside down on their mortgage, many families will likely consider a vehicle that was a prior rental, so dealers should consider bidding when a low mileage rental unit becomes available at auction.
The monthly Blue Book Market Report explores the state of the automotive industry by analyzing Kelley Blue Book® Auction Values. The report also discusses developments in residual values and trends in monthly used-car shopper activity on kbb.com. If you would like to subscribe to the monthly Blue Book Market Report, please e-mail firstname.lastname@example.org.
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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the industry. Each week the company provides the most market-reflective values in the industry on its top-rated website www.kbb.com, including its famous Blue Book® Trade-In and Retail Values and Fair Purchase Price, which reports what others are paying for new cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies as well as governmental agencies. Kbb.com provides consumer pricing and information on minivans, pickup-trucks, sedan, hybrids, electric cars, and SUVs. Kelley Blue Book Co. Inc. is a wholly owned subsidiary of AutoTrader.com.