Welcome to this week’s edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full report.
This week’s Black Book Market Insights report shows continued spring season momentum for cars such as Sub-Compact Car and Mid-Size Cars. And even though Compact Cars and Fullsize Cars declined, the price drops were minimal. Furthermore, the report spotlights Specialty Markets and discusses where incentives have fallen as of late, which could be a positive sign for residuals.
“It was a great week for lower-priced mainstream brand vehicles as tax season buying continues with active bidding in the auction lanes,” said Anil Goyal, Executive Vice President, Operations.
- Volume-weighted, overall car segment values declined by only 0.10% last week. In comparison, the market values had decreased on average by 0.24% per week in the previous four weeks.
- In cars, the Sub-Compact and Mid-Size Car segments performed the best, with values increasing by +0.21% and +0.11%, respectively last week.
- Volume-weighted, overall truck segment (including pickups, SUVs and vans) values decreased by 0.19% last week, lower than the average decrease of 0.37% per week in the previous four weeks.
- In trucks, the Compact Crossover/SUV and Compact Van segments performed the best with values holding steady last week.
Collectibles: What started out as a national caliber Concours d’Elegance twenty three years ago has turned into one of the top three collectible vehicle events in the United States, joining Pebble Beach/Monterey and Scottsdale to become the reigning collectible car triumvirate.
Recreational Vehicles: For the second month in a row, the values of RVs sold at auction, including motorized and towable, were very stable, with changes of less than two percent.
Powersports: The old saying, ‘In like a lion, out like a lamb’ refers to typical March weather, but the first half of that phrase could just as well refer to a few segments in the Powersports market this month.
Heavy Duty: February ended in a similar fashion as January, with strong used wholesale values. This trend includes some commercial trailers; in fact, many dry vans and reefers appreciated in value.
Medium Duty: Overall, the Medium Duty market stabilized during the last couple of months of 2017 and that trend continues for the first part of 2018. Reports are indicating that truck orders are up on almost all truck classes, but the increase in inventory will not necessarily have a negative impact on the future market.
Author: Black Book
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