With January presenting Black Book five weeks of activity to analyze, managing editor Ricky Beggs sifted through what happened as some auctions had an extra sale day to put on their monthly ledger.

Beggs admitted that this January produced market results slightly different from what was traditionally expected.

“The first two weeks we reported previously, didn’t get us the first of the year uptick in values, but the next couple of weeks have brought better retention,” Beggs said during his latest online video report, “Beggs on the Used Car Market.

Beggs continued that, “For years, we as the Black Book editors have witnessed good values during the last week of the month, but generally less auction activity and slightly lower conversion rates. This is even more visible when that last week is the extra fifth week of the month.

“This past week, the value changes were very similar to the previous week for both cars and trucks with both segment types also close to the average segment change amounts of one year ago,” he went on to say.

To be specific, Black Book found that car prices softened by $46 or 0.31 percent last week. A year earlier, the price decline for these units was $54 or 0.38 percent.

What editors termed as the most consistent car segment type over the past month — compact cars — posted a $26 price decline last week, consistent with its average drop of $28 for the past four weeks.

Switching over to trucks, Black Book discovered prices continue to be in a “very stable market trending pattern” as prices dipped an average of $27 overall last week. That level was the exact same as what happened during the same week last year.

“Even with four truck segment types declining $10 or less for the week, this was the first week since the week ending Nov. 30 that we have not had at least one truck segment type with an increasing amount,” Beggs said.

Beggs moved on by sharing some of the comments Black Book survey personnel gathered a week ago with one topic being mentioned “way more” than any other. Beggs pointed out the topic even came up at the auction he personally attended.

Beggs said, “20 of the written reports highlighted comments about the weather. From the ‘bitter cold’ to ‘heavy rain, steady snow’ and ‘very windy,’ the weather was a factor. It probably even kept some dealers away from the lanes. Or do we relate the lagging conversion to the fifth week of the month?”

Beggs wrapped up his latest commentary by highlighting how Black Book’s industry event itinerary is about to get busier now that February is here.

“February is the time of the year that brings extra activity and market movement at the auctions as well as quite a few key industry related conventions and conferences,” Beggs said. “This week several of the Black Book team will be part of the AFSA Conference in Orlando and the 17th Annual Vehicle Finance Conference and Exposition, which precedes the annual NADA Convention and Exposition and the ATD Convention for the medium and heavy duty truck dealers.

“We will also be presenting a market update to a session of the Auction Academy, which includes some solid auction leaders,” he continued. “The following week you will find us at the Dealer Expo, which will be held in Indianapolis for the franchised and independent motorcycle dealers and industry suppliers.

“Following these events, and just about a month away, we will be getting market insight as part of the CAR/NAAA/IARA annual conference focusing on the remarketing industry held in Las Vegas,” Beggs added.

“Maybe we will see you at one or more of these key industry events. If so, we would love to hear how you see the market. If you don’t make one of these events, we look forward to seeing you on the auction lanes,” he went on to say.

Beggs closed with one more thought regarding the extra week January presented the industry.

“By the way, this is the first week of the month and we are bound to see better auction activity as compared to last week,” he said. Have a great week.”

Beggs video can be viewed below.

Continue the conversation with Auto Remarketing on both LinkedIn and Twitter.