Black Book editors explained how last week’s level of wholesale price adjustments confirmed a dealer comment their survey personnel shared.

The amount of adjustments came in at 61 percent, extending a streak of four weeks in a row with a level at 60 percent or higher and prompting one dealer to tell Black Book that “no bargains mean plenty of buyers.”

Furthermore, Black Book editorial director Rick Beggs indicated the 1,874 vehicles adjusted per day a week ago constitute the second-largest level of adjustments during a “strong” March market.

“Last week we mentioned the significantly larger number of average condition values adjusted over clean condition,” Beggs said during his weekly online video commentary, “Beggs on the Used Car Market.”

“Even though the greater number of average condition values has occurred every week since the week ending March 1, the variance has not been that great,” Beggs continued. “We still see it as a sign of looking for a better bargain and dealers also looking for the opportunity to increase revenue through some quality reconditioning.”

Beggs refuted a notion that falling gas prices could be a trigger for the steady amount of price-adjustment volume. He pointed out that while gas prices continue to fall, cost at the pump ticked just $.015 lower this past week.

“At least we are $0.24 less than a year ago,” Beggs said. “I wish I could say the decline at the pump was directly driving the market, but at this point this is an afterthought. The overall strength is really based on less than full operating lanes with plenty of buyers in the lanes and signed in online.”

All told, 15 of the 24 segments Black Book tracks finished with higher prices week-over-week, according to editors. They determined average car prices dipped by $3 for the second week in a row while average truck prices rose by $7, the same level as the past two weeks

“Based on the survey personnel comments from their views from the auction lanes the final adjusted numbers fall right in line,” Beggs said.

Looking at some specific prices movements among cars, Black Book mentioned that dealers are looking for economic, fuel-efficient models, creating demand for entry level cars (up $32), compact cars (up $15), upper midsize cars (up $16) and entry midsize cars (up $5)

Of note on the truck side, prices for compact SUVs moved higher for the seventh consecutive week, rising $26. And prices for compact crossovers climbed for the fourth time in the last five weeks, increasing $19.

After reviewing the price data, Beggs recapped what else Black Book has been tackling.

“Last week was jammed packed with a variety of activities packed into the week within editorial,” Beggs said. “Working on the upcoming model year changeover that takes place on May 1, getting the used mileage charts updated to the current market reactions, being part of an interesting automotive market conference, visiting the press days of the New York Auto Show and even doing a used-car value interview with a TV station in Memphis, while still attending auctions and analyzing loads of market data to report the current market values, filled the week’s efforts of the editorial team.”

In addition, Beggs indicated the editorial team published market driven values on an additional 14 vehicles from the 2013 model-year.

“If you are a mobile, Internet, or electronic data customer you already have these values,” Beggs said. “In another month, if you only get a printed guide, you will have the latest on these 2013 models. 

“We hope you have a great week and we look forward to seeing you on the auction lanes,” Beggs went on to say.

Beggs’ video can be viewed below.

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