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Tax Season Strength Starting To Pick Up

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 inaugural issue, covering the latest trends and data impacting the automotive industry here in the middle of March.

 

During typical “Tax Seasons”, valuations for lower-priced cars and trucks start to heat up in the early and middle part of March. However, with the improved economy and mild winter weather, this year’s tax season started a little earlier dating back to late 2014. As a result, buyers and sellers may not see the sharp increases in prices this time of year that they may be accustomed to.

 

What’s more, the type of vehicle primarily in tax season demand may be slightly different this year as well. The improved economy and still-low gas prices mean buyers may be a little more interested in Full-Size Trucks, SUVs and Full-Size Cars. Entry-Level Cars remain a focal point for buyers this time of year, but a more diverse set of segments are getting looks as buyers take advantage of fuel prices.

 

“Entry level cars are starting to show seasonal strength in value driven by demand from the tax season buyer while the luxury segments show some weakness,” said Anil Goyal, Vice President of Automotive Valuation and Analytics.

 

  • Overall, the cars dropped by only -0.09% (-$9) in value this past week. This is stronger than the retention we have seen in the previous two weeks.
  • Overall, the truck values dropped by -0.23% (-$34) from last week.
  • Entry-Level cars are gaining interest by dealers who are still preparing for tax refund buyers. This segment performed well last week, increasing by an average of +0.31% (+$19).

 

Click here to view the full Black Book Market Insights report for this week.

 

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.

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Tags: autos, black, book, cars, used, vehicle

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