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Here is the used car market report for the week of Sept. 3, 2013. The fall market continues, and maybe at a greater declining level pace a little earlier than previous years. Even though it is at a seasonal trend we have expected, it is supplemented by the continuing increase of availability of used inventory. This week we will get a feel as to how the new car sales fared for August when industry reports are made.
Looking at the overall changes and the level of those changes it is obvious of the additional choices when looking for needed used inventory. The number of vehicles getting adjusted each day declined slightly, by about 114 fewer each day. There were more changes within the trucks than the cars with an interesting note being that a greater percentage of increasing adjustments were within the trucks, but the overall average segment change amount was greater within the trucks.
Cars And Trucks Retention
The cars' average segment change improved this past week to -$61 as related to -$78 the prior week. The weekly change is right in line with the year ago change of -$62. Another indicator of a slightly better car market is that seven of the ten segments had lower declining amounts than the prior week. Where five of the ten segments two weeks ago had declines of at least -.50%, this past week only one segment, the Entry Sporty Cars, hit that level at -.56%. If you are looking for a more stable segment, the Full-size Cars have led the way with the smallest declines for each of the past three weeks. This segment is solid transportation and the full –size versions could be getting additional attention as gas prices are fairly stable and well below year-ago levels.
The trucks brought some of the larger segment changes in quite some time and the overall segment change at -$71 was the largest weekly decline since the week ending November 2, 2012 at -$73. Supporting the level of changes saw thirteen of the fourteen truck segments have greater declines than the previous week with the exception being the Full-size Pickups with a small -$23 change. While the Full-size Pickups did well, six segments declined by -.50% or more with the largest dollar changing segments being the Full-size Crossovers and the Luxury SUVs. After a couple of years of more strength in the truck segments it might be time to readjust overall.
We will be looking at the numbers of the overall past monthly movement in the market during the next week and providing some insight, but for now we see the market as mostly expected.