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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 Black Book Market Insights report shows vehicle depreciation again accelerating more than trucks, led by three different luxury car segments, despite a few other car segments still showing small increases. The report also looks at a 36-month residual forecast on all segments, as well as the monthly Specialty Markets update.
“Wholesale markets show steady depreciation in values while overall consignment levels were reportedly lower last week,” said Anil Goyal, Executive Vice President, Operations.
• Volume-weighted, overall car segment values decreased by 0.21% last week. In comparison, the market values had decreased by 0.10% on average in the prior 4-week period.
• In cars, the luxury segments experienced the biggest drops.
• Volume-weighted, overall truck segment (including pickups, SUVs and vans) values decreased by 0.10% last week. In comparison, the market values had decreased by 0.04% on average in the prior 4-week period.
• In trucks, the luxury crossover/SUV segments performed the worst.
Collectibles: Buyers of the limited production Ford GT coupe were required to keep their car for two years before selling it. Ford has filed a lawsuit against actor John Cena, and his car dealer, for prematurely selling his GT.
Recreational Vehicles: RV values at auction were mixed last month, with motorized units taking a big hit, while towables managed a small gain. With the exception of February, motor homes have been dropping consistently since last October.
Powersports: Powersports values heading into summer are steady or up modestly for most segments.
Heavy-Duty: Serious buyers showed up as Memorial Day weekend approached, while the volume of trucks at HD auction venues dropped, helping to stabilize prices.
Medium-Duty: This past month Older Units (2007-2014) dropped an average of $117 (0.6%), which is just $5 more than last month. While Late Models reported a positive trend compared to May’s results. Last month Late Models (2015-2016) dropped $296, which is a $15 improvement from last month.