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 Black Book Market Insights report shows a slight turning point in spring, with car values finally cooling off from the last several weeks of increasing price activity. That being said, a handful of car segments still showed a slight uptick this past week.
“The market is shifting towards neutral as spring seasonality wears off. Non-luxury segments in small crossovers and sedans showed stability last week,” said Anil Goyal, Executive Vice President, Operations.
• Volume-weighted, overall car segment values increased barely by 0.05% last week. In comparison, the market values had increased by 0.24% in the week prior.
• In cars, all non-luxury segments performed well, with values stable to slightly up.
• Volume-weighted, overall truck segment (including pickups, SUVs and vans) values were nearly flat. In comparison, the market values had decreased by 0.06% in the week prior.
• In trucks, the Sub-Compact Luxury Crossover segment performed the worst.
Specialty Markets Update
Collectibles: There have been several successful collectible car auctions this Spring. Barrett-Jackson’s Palm Beach sale, celebrating its 16th anniversary, was perhaps the most visible, as it was a four-day event and was extensively televised.
Recreation Vehicles: RV values at auction, including most towable and motorized vehicle segments, decreased last month. This is not typical for this time of year, as most dealers are scrambling to stock their lots before the first customers come in.
Powersports: Cruisers are the big winners this month, as both Metrics and Domestic V-Twins are showing solid gains as the Powersports market enters its strongest portion of the year.
Heavy-Duty Trucks: Wholesale prices are doing exceptionally well, with a small overall deprecation showing up on late models, while the older segment dropped a little more.
Medium Duty: Limited used supply is helping older units maintain their values slightly better than the late models. In addition, new supply is helping to put some added pressure on late model units causing them to depreciate a bit more than they have in the past couple of months.
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