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Welcome to this week’s edition of Beggs on the Used Car Market, with analysis from Ricky Beggs and Black Book. As the calendar is closing out the month of July the market is indicating a variety of actions. The smaller and more fuel efficient models are getting some attention again after softening for just over a month once the tax season expired. Even some of the six to eight year old…Continue
Added by Black Book on July 28, 2014 at 8:16am — No Comments
Black Book announces the addition of Anil Goyal to its executive team serving as Vice President of Analytics and Strategic Relationships. Best known for providing timely, independent and accurate vehicle valuation data, the addition of Mr. Goyal enables Black Book to broaden its reach into data and trend analysis for customers in a variety of leading industries.
Mr. Goyal comes to Black Book with a deep background in strategy and has held a number of senior positions in the…
Added by Black Book on July 23, 2014 at 11:32am — No Comments
Online shopping for purchasing a car has never been more popular. But what about if you want to compare leases through an online channel? According to participants of a recent survey from Wantalease.com, many respondents wouldn’t even know where to start.
Executives at Wantalease.com and its sister marketplace, Swapalease.com, were curious about how average drivers feel about the online research and shopping process on a new lease.…
Added by John Sternal on July 23, 2014 at 7:01am — No Comments
Here are the latest trends and insights on the used car market according to Black Book data and Ricky Beggs. The market continues the more traditional seasonal movements and for the first three weeks of July the average change amount has increased within the cars and trucks. This past week the cars average segment change was -$68 as compared to the previous two weeks of -$56 and…Continue
Added by Black Book on July 21, 2014 at 1:00pm — No Comments
Depreciation rates on used vehicles are nearing levels not seen since the recession, though the trend will soon reverse and likely lead to marginally higher losses for U.S. auto ABS, according to the latest joint vehicle…Continue
Added by Black Book on July 17, 2014 at 12:00pm — No Comments
Wantalease.com, the nation’s first online car lease marketplace for new lease deals, says certain GM models saw the largest drop in prices in June, with new lease deals offered on the Buick Regal Premium leasing for $229 per month, down from $426.46 in May. The Buick Lacrosse was being offered for $249 per month, down from $425.21 in May. The data was reported in the June Wantalease.com…Continue
Added by John Sternal on July 9, 2014 at 2:05pm — No Comments
According to Black Book® data, the average price of a used vehicle for model years 2009-2013 overall saw larger depreciation in June compared with the previous two months, signaling typical summertime patterns. Average segment prices saw -1.0% depreciation in June compared with May levels of -0.4%. Domestic cars changed -2.0%; import cars changed -1.4%; domestic trucks changed -0.5%; and import trucks changed -0.8%. Average pre-recession depreciation is historically between -1% and -2%…Continue
Added by Black Book on July 8, 2014 at 7:20am — No Comments
Welcome to this week’s edition of Beggs on the Used Car Market, with insights and analysis of the used car market from Ricky Beggs and Black Book. It was an abbreviated week of wholesale activity. The car segments came in at -$45 which is right around the change levels of the previous nine weeks. The lone segment that caught my attention was the Entry level Cars at -$37 or -.52%. The previous week this…Continue
Added by Black Book on July 7, 2014 at 8:52am — No Comments
The 36-month lease has long been the norm in auto leasing circles, but Toyota and Chrysler are beefing up their 24-month lease offerings. According to a report in Automotive News:
"Toyota is seeing a strong shift into two-year leases this year, a trend that promises quicker customer turnarounds and fuller used-car inventories down the road. At Toyota…Continue
Added by John Sternal on July 1, 2014 at 10:12am — No Comments
Hello and welcome to the final Beggs on the Used Car Market video blog for June and also for the first half of 2014, with data and insight from Ricky Beggs and Black Book. It is amazing how fast the days and weeks have been checked off the calendar. We have dealt with a spring market that was delayed, a spring market that extended into the middle of May, and an active new car sales market unaffected by record…Continue
Added by Black Book on June 30, 2014 at 9:05am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of May were 60.6%, the lowest monthly level of the year and down from January when the approvals rate was at 70.6%.
Despite the overall approvals rating sliding down from a 2014 high in January, Swapalease.com attributes the recent slide to a significant higher number of applications over the last two months. In fact, 44.7% more applications have been processed in May and April…Continue
Added by John Sternal on June 25, 2014 at 6:16am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market. I’m Ricky Beggs, Editorial Director at Black Book. There have been so many events happening within the auto industry this past week that have a direct influence on the used car market. A few weeks ago a tremendous group of storms consisting of tornados and tremendously large hail passed right by the Denver airport. Fortunately the track of the…Continue
Added by Black Book on June 23, 2014 at 12:09pm — No Comments
Swapalease.com works with thousands of people each year looking to escape their lease contract before end of term for a variety of reasons. For the most part, people look to escape simply because they can no longer afford to make the payments, they’re bored and ready for something different, or they’ve had a change in their lifestyle (new baby on the way).
But a new crop of reasons has started to gain traction from drivers across the country. While many of these reasons are…
Comments made such as ”dealers starting an adjustment” and “dealers being selective” along with “buyers being cautious” coming in with the Black Book survey personnel reports caught our attention and led to anticipation as to what the actual adjustments would be after a week of market analysis.
Hello and welcome to this week’s edition of Beggs on the Used Car Market, with…Continue
Added by Black Book on June 16, 2014 at 8:42am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, released its latest report on vehicle incentives from May, and one particular area stood out: Despite all the attention on recalls, few GM brands are currently listed with a cash incentive.
Cash incentives are a normal practice in the world of automotive sales, but what makes this report different is that the Swapalease.com marketplace involves person-to-person transactions. According to incentives data from May listings,…Continue
Added by John Sternal on June 10, 2014 at 6:01am — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. What a week it has been for the Editorial team at Black Book! From viewing auctions online and the editors actual attendance, we were hands on with at least twelve auctions, to go along with the sixty-three physical auctions the Black Book survey personnel attended and reported the actual market activity from.Throw in the numerous electronic data feeds and we have a great feel for the market activity.
Added by John Sternal on June 9, 2014 at 8:30am — No Comments
According to Black Book® data, the average price of a used vehicle for model years 2008-2012 overall dipped slightly during May, the beginning of a summer season that typically sees higher depreciation compared with spring levels. Average segment prices saw -0.4% depreciation in May compared with the previous month (+0.9% in April). Domestic cars changed -0.5%; import cars changed -0.9%; domestic trucks gained +0.5%; and import trucks changed -0.4%. Average pre-recession depreciation is…Continue
Added by John Sternal on June 5, 2014 at 9:10am — No Comments
Help grads get rid of their car.
According to the National Retail Federation, Americans are on track to spend over $4.7 billion in cash, gift cards, clothing and electronics for graduates this year. They're also facing a still-tough job market. Today’s crop of new B.A.s are staring at roughly 8.5 percent unemployment and 16.8 percent underemployment, according to the…
Added by John Sternal on June 4, 2014 at 11:59am — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. Last week was a semi-short week as we all had the chance to remember and honor those who have served in the military. No matter where a holiday falls there is some effect on the rhythm of the auctions and buying and selling needs of the wholesale markets.
Overall the changes to the values were more stable with no extremes in the level of change. Even though there were comments within the Black Book survey…Continue
Added by John Sternal on June 2, 2014 at 11:57am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, says its customers continue to escape their car leases at a near-record pace. According to data from April listings, car lease drivers in April planned to escape their lease contracts 15.3 months into their lease, slightly off the record pace set back in January of 13.9 months.
Based on lease contracts with an average term of 36 months, the current pace of exit continues to expedite in pace. Prior to 2014, the average…