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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.
In this week’s report, the Black Book editorial team identifies a continuation of strength, particularly for smaller car segments. Compact Cars (+0.52%), Entry-Level Cars (+0.45%) and Entry Mid-Size Cars (+0.15%) help keep overall car segments stable and relatively unchanged on the week. The car segment with the largest decline on the week comes from the Prestige Luxury Cars, with -0.64% on the week.
Truck values were similarly unchanged this past week, yet they did see a more slightly positive change overall at +0.11%. Trucks were led by Full-Size Pickups (+0.26%) and Passenger Minivans (+0.19%). Gas prices saw a slight decline and finished the week with an average of $2.41 per gallon.
“Market strength has now extended into the second week of April for small car segments. In addition, full-size truck values remained fairly strong,” said Anil Goyal, Vice President of Automotive Valuation and Analytics.
For the sixth consecutive week, volume-weighted car values continued to increase, though by a smaller amount than last week.
Overall, the volume-weighted truck values were fairly stable as well, increasing by +0.11% from last week.
All car segments except the luxury and premium car segments went up in value.
Luxury SUVs dropped in value while Full-Size Pickups and Full-Size SUVs continued to show an increase.
We expect the market to start to soften in the coming months as supply starts to exceed demand.
Click here to download the full report.