If the latest report from Black Book is any indication, this may be a good chance for dealers to take advantage of falling  prices on entry-level cars. 

Black Book’s Ricky Beggs noticed a possible correlation between declining auction prices in this segment and spiking gas prices.

In the latest “Beggs on the Used Car Market report,” he pointed out, “This past week we saw a continuing climb in gas prices, now totaling an increase of $0.08 per gallon over the past two weeks and narrowing the difference to only $.11 under the price one year ago.”

Is there a possible connection between gas price increases and the current market movement?

For the car segments, entry level cars had the largest price drops in the lanes this past week, falling by an average of $59.

“For the fourth straight week all 10 car segments declined with an average change of -$40 and the most recent three week average change of -$41,” said Beggs.

And perhaps a symptom of rising gas prices, only one truck segment experienced increases this past week (midsize pickups rose by $21), after truck prices have touted strong price increases across the board this spring.

Overall, the truck segments saw an average segment change of -$24 this past week.

To view latest “Beggs on the Used Car Market” report, see the video below: