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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 shows how car values saw an increase while truck values were down slightly. The report also shows how the spring market is late this year, as values continued to decline in January and February. It is, however, attempting to make a strong comeback from Week 11 this year. Lastly, the report also includes the latest specialty market trends.
“Auto auctions are seeing high sales conversion rates with active buyers. Spring market is in full swing, and affordable cars have the strongest demand. Sub-Compact Cars led the market last week with the highest lift in valuation,” said Anil Goyal, Executive Vice President, Operations for Black Book.
• Volume-weighted, overall car segment values increased by 0.17% last week. In comparison, the market values decreased by 0.25% on average during the prior 4-week period.
• Mainstream cars and Sporty Car segments showed a strong lift in values.
• Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by just 0.07% last week. In comparison, the market values decreased by 0.36% on average during the prior 4-week period.
• In truck segments, Minivans showed the most lift in values while luxury SUVs showed the most declines.
Specialty Market Updates
Collectibles: The collectible car world has gotten off to a very good start in 2019. The first two months of the year saw well over $500,000,000 in total sales, and the auctions held in association with the Amelia Island Concours d’Elegance added another $80,000,000.
Recreational Vehicles: Now that spring is finally here, dealers are seeing an increase in floor traffic on their lots and strong interest at shows. We have noted an uptick in volume for the second month in a row at the wholesale auctions as dealers continue to fill out their inventories.
Powersports: Entry-level, affordable, and mid-range units lead the way as the Powersports market enters spring. Warmer weather has brought most segments of the market significant increases in value, which is a welcome development as the retail selling season is upon us.
Heavy Duty: As more Over the Road Trucks dropped in wholesale value, a few others held their own while a couple actually went up.
Medium-Duty: Auction prices continue a downward trend as demand slows and new and used inventory increases.