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Welcome to this week's edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full report.
This week’s Market Insights Report looks at the latest specialty markets and incentives data. Auto manufacturers have continued to remain disciplined in the past several months on incentive levels. However, if new vehicle sales slow further, we expect this trend to reverse.
“Used vehicle depreciation trends remain steady as the seasonal lift in demand has yet to show up,” said Anil Goyal, Executive Vice President, Operations for Black Book.
Collectibles: The year has started off very well in the collectible car world. The Scottsdale collectible car auctions topped $250,000,000, the auctions in Paris centered around Retromobile approached $100,000,000, and Mecum did roughly $135,000,000 in January in Kissimmee, Florida and Las Vegas, Nevada.
Recreational Vehicles: Even though many areas of the country have been on the receiving end of a few bad late winter snowstorms recently, spring really is right around the corner, and shoppers will soon be heading into the dealerships.
Powersports: 2019 is getting off to a little bit of a slow start in the Powersports market. Values this month are still heading down for most segments, though we are seeing the first positive signs of the spring market beginning to appear.
Heavy Duty: A couple of models dropped quite a bit in February, bringing the overall over the road tractor average depreciation to 0.7%, but most models were on the same pace as last month’s drop.
Medium Duty: New truck sales remain strong through the first quarter helping add downward pressure to late model wholesale values.