Welcome to this week's used car market report, with insights from Black book. The overall market activity and market movement that so non-traditionally trended in November and the non-holiday weeks of December have mostly carried over into the first two weeks of January. The trend that has continued is the steady and consistent fall in gas prices at the pump. Now at $2.21 a gallon, down another $.08 week over week, and an amazing $1.12 below year ago price levels, it continues to be a joy to consumers. Diesel fell another $.08 as well, but at $3.14 is only $.77 below the price of one year ago.

Looking at various segment changes, the cars at an overall average segment change of -$30 was driven by the low side changes of the Compact Cars at -$7, the Full-size Cars at -$12, the Upper Mid-size Cars at -$17 and the Entry Level Cars at -$20. It is obvious from these levels of changes that the demand for the cars in this price range found in most of these segments the spring tax season is taking precedence over cheap gas and more fuel efficient cars.

If you remember one year ago our country was in the midst of some of the most widespread and wicked winter storms, and the car segment average change was -$78 as the spring market uptick was delayed several weeks. Even though the first frigid blast of winter air hit this past week, even in the south, we weren’t blasted with dumpings of feet of snow and ice.

Well, maybe the gas pricing is helping with the truck market. At an overall average segment change of -$33, that is better than the year ago level of -$55. We had a positive change within the trucks this past week, and for the first time in a while it was not within the Full-size van segments, but in the Compact SUVs at +$10. The Compact Pickups with basically no change and the Compact Crossovers and Full-size Pickups at -$13 and -$15 respectively are looking good within the market.

On a more eye opening movement, the full-size utilities took some of the larger adjustments this past week, contrary to what one would think in regards to the gas prices. The Full-size SUVs at -$92, the Full-size Crossovers at -$83 and with not as large an adjustment, the Luxury SUVs at -$55 are moving. The previously strong Full-size Vans changed by -$62 for the wagons and -$39 for the cargo versions have taken a different level of change this past week.

There is a lot of complimentary activity going on within the industry. The Consumer Electronics Show this past week in Las Vegas had a major contingency of auto industry related products. Just around the corner this week is the Detroit Auto Show and we are already getting teaser releases about new cars and products to be officially announced. And in our case directly this past week we had the chance to get hands on insight into an amazing piece of machinery and technology. The 2015 Corvette Z06, a completely stock configuration car boasting 650 HP and 650 foot pounds of torque, is a car that can be taken directly to the track for exhilarating thrills. It can also be a car that can cruise around town, while also hitting the highway with a comfortable ride when adjusting the multiple level suspension settings. Add all the technology developed for this premium sports car and even a non-track trained driver can operate this car that will help overcome some of your rookie skills. All of this comes at retail price right at $80,000. Most of the high performance fifteen plus 600 HP club vehicles start out in the $250,000 plus entry point, even without some of the latest Z06 technology.

Thanks for tuning in today and we are glad to be back on the auction lanes with you after the holiday break. Have a great week.