It was expected that demand for used cars would rise following Sandy, as people looked to replace more than 250,000 vehicles damaged or destroyed by the storm. Black Book has recorded a change in seasonal pricing patterns, coupled with direct feedback from wholesalers indicating replacement demand is in effect. Below is Black Book data that points toward which vehicle segments that have seen the most impact during November:
- Entry-Midsize Cars See Largest Positive Price Change: During the month of October, midsize used cars such as the Ford Fusion, Chevrolet Malibu and Volt, and Toyota Prius saw price declines of -2.4%. However, throughout November these cars had price declines of just -1.0%. This segment represented the most drastic positive price change.
- Compact Cars See Next Largest Positive Change: During October, compact cars such as the Honda Civic, Toyota Corolla, Chevrolet Cruze and Ford Fiesta saw price declines of -2.6%. During November, segment price declines averaged just -1.6%.
- Compact Pickups Actually See Large Negative Price Declines: During October, compact pickups such as the Nissan Frontier, Ford Ranger and Toyota Tacoma saw price declines of just -0.2%. However, during November pickups in this segment averaged a larger price drop of -1.2%.
- Near-Luxury Cars Also See Negative Price Changes: In October, near-luxury cars such as the Audi A4, Cadillac CTS, Lincoln MKZ and Acura TL saw price declines of -1.4%. During November, cars in this segment saw price declines of -2.0%.
About Black Book
In business since 1955, Black Book is a provider of accurate pricing insight, mobile solutions and online vehicle trade-in valuation for the automotive industry. The company offers the industry’s most accurate vehicle valuation insight to dealers, lenders, remarketers and government agencies. Black Book also provides automotive shoppers with instant and accurate credit-score estimates and trade-in appraisals, which provide the highest quality sales leads for dealers.