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 editors saw data that showed a brief change in car retention in early July before car patterns quickly returned to a more “summer normal” rate of depreciation this past week. Additionally, the editors are tracking larger-than-normal depreciation among full-size vans driven largely by increasing supply, which impact mid-size businesses and service-level drivers.
“After an aberration last week, car values continued their decline at a higher pace as compared to trucks. Entry Level Cars dropped the most while Compact SUVs retained their value,” said Anil Goyal, Vice President of Automotive Valuation and Analytics.
- Overall, the volume-weighted car values decreased by 0.58% last week, higher than the average decline in last 8 weeks.
- Entry Level Car, Compact Car, Full-Size Car and Near Luxury Car segments led the pack, each declining by over 0.70% last week.
- Overall, the volume-weighted truck values decreased by 0.19% last week, similar to the average decline in the last 8 weeks.
- Full-Size Vans have enjoyed very strong retention over the past year due to limited inventory. However, as supply is now starting to increase on these vans, the values are dropping. We expect to see increased drops in this segment as supply improves later in the year.
Click here to download the full report.
You need to be a member of DealerELITE.net to add comments!
Join DealerELITE.net