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Here is the latest used car market report from Black Book and Ricky Beggs. As we track and report the used market values there is one piece of information that doesn’t come from an electronic data feed or from individual sales data gathered by the Black Book survey personnel. This is the direct insight we glean as we have numerous one-on-one conversations with auctioneers, individual buyers and sellers and various remarketers, while we as editors attend the physical auctions. We almost look at this hands-on piece as another part of the market data and insight necessary to report the most accurate and timely information. The market activity from last week continues to bring us depreciation levels for overall car and truck segments -.3% to -.4% per week. Where the trucks have been at better retention levels than the cars for most of the first half of 2013, the past few weeks this has reversed itself with trucks being about .1% greater declining values.
This past week the activity in the lanes and on-line offerings showed a slight increase in the number of positive adjustments at 25%. The -$45 average segment change for the cars was the largest declining amount over the past four weeks with the better retention being the Entry Level Cars and the Compact Cars at -$15 and -$18 respectively. Gas prices declined by $.05 over the last week, yet they are still $.14 higher than one year ago prices at the pump.
Earlier I mentioned the strength of the trucks for the first half of the year. At -$50 this past week the average segment change over the past three weeks has been at the almost -$50 change. This is a level of declining amount we haven’t seen within the trucks since the end of November 2012.Comparing to the changes of one year ago we are slightly better this year with both the cars and the trucks.
We did return to having at least one truck segment with an overall increase this past week and that being the Compact SUVs, up by $14. While decreasing, the Compact Pickups are holding well for the second week with single digit declines. We are keeping our eyes on the minivan segments and models as for the past three weeks the percentage of change is right at the top level of decline within the truck segments. With all the movement the changes are very much in-line with this seasonal adjustment of previous years.