Describing his findings in Black Book’s latest look at the wholesale marketplace, managing editor Ricky Beggs shared how a pair of distinct dealer sentiments are showing up in the lanes nowadays.

Included in his weekly video report, “Beggs on the Used Car Market,” the Black Book veteran  indicated the majority of the comments from dealers and survey personnel reflected on an “obvious reluctance to pay the high premiums” and that “dealers are not as bold in their bidding.”

Beggs went on to explain that, “While seeing a few more no sales than in past weeks was mentioned, it was obvious that some of the commercial accounts were holding tight to some strong floors while they are not quite willing to make an adjustment just yet.

“If there is anything with strength consistently maintained, a couple of dealers commented that ‘four cylinders are in demand,’” he added.

Overall when looking at the number and direction of the changes, Black Book discovered a big reversal, as only 29 percent of the adjustments this past week were increases. Editors found the overall change left wholesale unit prices slipping $33 — the first negative average change since the week ending March 4.

Black Book pointed out this average was based on more than 1,850 vehicles being adjusted each day throughout the week.

Taking a closer look at the 10 car segment types, Beggs noticed for the second time in the last six weeks that all 10 segments increased in value for the week. He noted the positive changes were led by some strong increases, as premium sporty cars climbed $127 and prestige luxury cars moved $90 higher.

Beggs added that entry sporty cars increased by $55. It was the third segment type to beat the overall car change level, which was $49.

“The No. 1 water cooler conversation topic and often the headlines of the news relates to the gas prices inching closer to that magical $4 mark,” Beggs surmised.

“With gas prices now sitting at a national $3.96 average, the overall change for the 14 truck segments, not surprisingly declined by $18, with eight segments declining and only six gaining,” he continued.

Black Book pointed out the truck decline marked the first overall weekly softening in eight weeks.

The segments with the most significant declines for the week were all from the full-size segments, as full-size crossovers (down $90), full-size pickups (down $80), and full-size SUVs (down $60) showed the heaviest declines.

Beggs acknowledged two of the three truck segments with the larger increases for the week were “what you would expect.” Compact crossovers climbed by $22 and compact SUVs ticked up $21.

“The third-leading segment increase — luxury SUVs — was a little bit of a surprise, even though it has been increasing week over week for the past five weeks,” Beggs explained about this segment, which moved $22 higher this past week.

“We hope this market overview has given you more detailed insight into the current market,” he went on to say. “We are in a changing market, with not everything changing the same or even in the same direction. We look forward to hitting the auction lanes again this week reporting the latest market activity each day. We hope to see you there as well. Have a great week.”

Beggs’ videos can be viewed here.

TrueCar.com Incorporates Black Book Used Vehicle Data into New Site

In other company news, TrueCar.com announced Monday it has reached an agreement to license Black Book used-vehicle values in an attempt to provide richer information and further enhance its recently launched used pricing website, ClearBook.com.

Officials believe ClearBook is the first used-vehicle pricing website that is free to consumers and analyzes listing and transaction prices for the used marketplace. They content shoppers can obtain objective, unbiased price guidance for a unit based on year, make, model, mileage and condition. 

With the addition of Black Book’s values, TrueCar.com management believes they now have “the industry’s most relied upon source for trade-in prices,” and consumers will now know the real value of their trade-in before they walk into the dealership.

“Black Book’s data is an invaluable tool in generating a fair value for the sale or trade-in price of a used vehicle,” stated Scott Painter, chief executive officer and founder of TrueCar and ClearBook.

“Consumers in the market for a used car will benefit greatly from this relationship,” Painter continued.

Painter went on to mention the next ClearBook upgrade will combine trade-in value, target sales price and list price to give buyers and sellers the most transparent view into vehicle pricing, whether that vehicle is a trade-in or sold privately.

“Pricing transparency helps consumers and dealers make the car buying and selling processes easier,” noted Tom Cross, president of Black Book.

“Black Book’s retail trade-in pricing provides consumers with very accurate and up to date insight into the used car trade-in market and nicely rounds out the ClearBook.com experience,” Cross went on to say. “We are delighted to be working with the TrueCar team and are excited about the value that this new tool brings to automotive consumers.”

Painter elaborated further by noting, “Black Book’s commitment to comprehensive, unbiased pricing information is in lock-step with the goals we have set to create a fair, trustworthy and informed marketplace. Black Book partnering with us is a ringing endorsement of the value proposition ClearBook and TrueCar both offer consumers.”