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Introducing the new Black Book Market Insights, a weekly report capturing the latest vehicle valuation trends straight from the auction lanes and reported as it happens by Black Book’s team of editors. The data, trends and insights delivered weekly in this report will help you make the right decisions to identify growth opportunities and maximize profit potential. This week is the second issue, covering the latest trends and data impacting the automotive industry here in late March.
This week’s report highlights the tax season strength found in a diverse set of car and truck segments. Whereas the average tax season period illustrates strength in smaller- and entry-level cars, this year Black Book data shows strength in additional segments such as Entry-Midsize, Full-size and Upper-Midsize car segments. Additionally, Compact SUVs on the truck side are also showing strength this time of year.
“The improved economy and still-low gas prices are resulting in broad strength in the market as a more diverse set of segments are getting looks from the buyers,” said Anil Goyal, Vice President of Automotive Valuation and Analytics at Black Book.
Overall, the volume-weighted car value didn’t change this past week.
Overall, the volume-weighted truck value dropped by less than 0.1% last week.
Typically in the middle of March, we see a very strong seasonality pattern with Entry Level and Compact Car segments as compared to other segments. This pattern looks to be muted so far as other cars segments show strength as well.
Low gas prices could be equalizing demand for Full-Size Cars with Compact Cars as we see the same percentage lift in value in both segments
Truck segments remain fairly stable and we saw broad strength across the high volume segments: Compact SUV, Compact CUV, Full-Size Pickup and Full-Size SUV
Fuel Prices May Be Stabilizing
Gas prices dropped by 3 cents to $2.453 last week
Gas price prediction remains below the $2.60 high for 2015
Diesel dropped by 3 cents to $2.917
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About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst Business media, and the company maintains offices in Georgia, Florida, and Maryland.