According to Rick Beggs, Managing Editor of Black Book, a review of December used-car and wholesale auto patterns shows noticeable price increases for Full-Size Cargo Vans and Wagons, indicating possible demand from remodelers and builders.
- Since the end of November, Full-Size Wagons increased wholesale prices by an average of +.60%. Additionally, Full-Size Cargo Vans increased by an average of +.47%. On the opposite side, Mid-Size Wagons saw the biggest drop in prices averaging -.45% as well as Full-Size Crossovers at -.35%. Mid-Size Crossovers (-.32%) and Mid-Size SUVs (-.31%) weren’t far behind.
- For car segments, Compact Cars saw the most stable month losing an average of just -.23% followed by Entry-Sporty Cars at -.23%. Signaling continued competitive pressures, the Upper Mid-Size Cars saw the biggest price drops among cars averaging -.46%, followed by Full-Size Cars at -.42%.
- Black Book will continue to have a watchful eye on lease-heavy segments such as Premium Luxury and Luxury-Level Cars, as off-lease activity begins to impact wholesale auto demand, and additional debt ceiling talks possibly impact on luxury-level spending.
- The new-car sales activity will continue to have a downward pricing impact on used cars moving forward according to the latest used-car market report. “Maybe the interest and level of new sales was the major driver holding back the used wholesale activity of the most recent week,” said Ricky Beggs, Managing Editor of Black Book. “More new sales equals more trade-ins which equals less additional sourcing for used inventory.”
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. Click here to view Ricky Beggs’ weekly video series offering the latest insight in the auto market http://ow.ly/aHFD6. Follow Ricky on Twitter @BeggsBlackBook (https://twitter.com/