According to Ricky Beggs is the VP, Managing Editor at Black Book – National Auto Research, below are a few of today’s used-car trends that may interest you in your automotive reporting. Feel free to use any of the data below, or let me know if you would like to schedule a call with Ricky Beggs, senior analyst at Black Book. Overall, used-vehicle prices continue to decline at a moderate pace, but some segment prices have fallen more than others since August.
1: Near-Luxury Prices Dropping More Than Premium Luxury
Since late August, luxury vehicle segments have declined moderately as a percentage. However, Near-Luxury cars such as the Audi A4, Acura TL, Cadillac CTS and Lexus CT 200h, have seen prices drop -3.3%. Premium Sporty Cars have dropped -2.7% during the same period; these cars include BMW 6-Series, Mercedes-Benz SL Class, Nissan GT-R, and Jaguar XK.
2: Pickup Trucks Outperforming All Segments
Black Book data show all three pickup truck segments holding the strongest retention values compared with all other truck and car segments. Over the past eight weeks, Compact Pickups (Nissan Frontier, Ford Ranger) have declined just -0.2%; Midsize Pickups (Honda Ridgeline, Dodge Dakota) have declined -0.1%; and Fullsize Pickups (Ford F-150, Chevrolet Silverado) have declined -0.2%.
3: Mid-Size Redesigns Putting Price Pressure On Used Vehicles
There has been growing hype over the new mid-size cars being introduced for 2013, with particular emphasis on stronger competition from domestic makers. These models are expected to lure an increasing number of car shoppers, placing larger-than-normal downward pricing pressure on late-model used cars in the mid-size segment.
The mid-size segments are already being impacted by the flurry of newly redesigned models planned for this fall. With particular emphasis on the entry mid-size category, wholesale price averages have dropped an average of -1.0% each week the last few months, when typical price activity should be averaging -1.5% monthly.
4: Prices Will Hold For Above-Average Condition Vehicles
“Vehicles that should hold the line on depreciation will be above the average condition 3- to 5-year-old models,” said Ricky Beggs, Senior Analyst at Black Book. “In the near term we expect Compact Pickups, Full-size Pickups and Full-size Crossovers to have the best and smallest percentage change; and the Luxury Level Cars to continue relatively low levels of percentage decline in prices.”
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/