Now that Labor Day weekend is in the rear-view mirror, Ricky Beggs is considering where wholesale prices are going with the height of the fall market straight ahead.

The editorial director at Black Book acknowledged prices are dropping at a pace that has started “a little earlier than previous years.”

He continued in the latest edition of the online video series, “Beggs on the Used Car Market," by saying, “Even though it is a seasonal trend we have expected, it is supplemented by the continuing increase of availability of used inventory.

“This week we will get a feel as to how the new-car sales fared for August when industry reports are made,” Beggs added. “Looking at the overall changes and the level of those changes it is obvious of the additional choices when looking for needed used inventory.”

Black Book mentioned the number of vehicles adjusted each day declined slightly a week ago, decreasing by about 114 adjustments each day.

“There were more changes within the trucks than the cars with an interesting note being that a greater percentage of increasing adjustments were within the trucks, but the overall average segment change amount was greater within the trucks,” Beggs said.

Overall, Black Book determined car prices softened by $61 last week after dropping by $78 a week earlier. A year ago, the car-price decline came in at $62.

Beggs said “another indicator of a slightly better car market” is that seven of the 10 segments posted lower declining amounts this past week than they did a week earlier.

Where five of the 10 segments two weeks ago had declines of at least 0.50 percent, Beggs indicated that this past week only one segment — entry sporty cars, hit that level, coming in at 0.56 percent.

“If you are looking for a more stable segment, the full-size cars have led the way with the smallest declines for each of the past three weeks,” Beggs said. “This segment is solid transportation and the full-size versions could be getting additional attention as gas prices are fairly stable and well below year-ago levels.”

Turning attention to trucks, Beggs noted that these units brought some of the larger segment changes in “quite some time.” Overall, truck prices dropped by $71, the largest weekly decline since Nov. 2 when it was $73.

Supporting Beggs’ assertion, Black Book editors noted that 13 of the 14 truck segments posted higher price declines week-over-week. The only exception was full-size pickups, which dropped by just $23.

“While the full-size pickups did well, six segments declined by 0.50 percent or more with the largest dollar changing segments being the full-size crossovers and the luxury SUVs,” Beggs said. “After a couple of years of more strength in the truck segments, it might be time to readjust overall.

“We will be looking at the numbers of the overall past monthly movements in the market during the next week and providing some insight, but for now we see the market as mostly expected,” he went on to say.

Beggs wrapped up his latest commentary by mentioning he will be joining Black Book colleagues and other remarketing professionals and auction representatives this week at the annual National Auto Auction Association Convention in Indianapolis.

“Stop by the Black Book booth and say hello. I welcome your comments about the market,” Beggs said.

“We hope your retail activity was great for the holiday weekend, which should bring you back into the auction lanes this week. We will be there looking for you. Have a great week,” he added.

Beggs’ video can be viewed below.

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