IRVINE, Calif. -

Following the same trend seen this spring, June truck values in the lanes soared over 2012 rates.

According to Kelley Blue Book, the average auction value for 1- to 2-year-old mid-size pickups rose 0.3 percent in June from May values.

But more significantly, when compared to June 2012, average auction values for used mid-size trucks were $596 or 4.2 percent higher this year.
 
KBB attributes much of this price spike to production stops and tight supply for this segment.  

“Higher values in 2013 are likely due to the end of production for several models like the Ford Ranger and Ram Dakota, decreasing the overall supply of used mid-size pickup trucks in the market,” said Alex Gutierrez, senior market analyst at KBB.

“A decreased supply also greatly affects trucks with higher auction value retention, such as the Toyota Tacoma, by increasing their average market value,” he added.

The tides may be turning though, as the latest “Beggs on the Used Car Market” video report showed that truck values are on the way down.

Last week, the mid-size pickup segment saw 64 percent of its models change in price, with 59 percent of those being downward changes. The entry-level cars were also active in necessary adjustments at 54 percent, reported Ricky Beggs, senior vice president and managing editor of Black Book. 

Why so many changes?

Beggs touched on a few factors that may be contributing to the large amount of price adjustments seen in the aforementioned segments.

“With the level of increasing wholesale inventory from the new car sales level and trades, and the many new models and major refreshed models coming into the market, especially the later model vehicles, (the market) must adjust allowing for another model year of vehicles to enter the used market,” Beggs shared, mirroring Gutierrez’ analysis.

KBB also pointed out another interesting trend in the truck segments this past month.

It seems interest in imported full-size pickup trucks proved strong, while interest in domestic trucks saw a downturn.

While units like the Toyota Tundra and Nissan Titan were up 0.5 percent and 0.4 percent, respectively, from mid-May values, interest in domestic trucks like the GMC Sierra and Chevrolet Silverado “may be waning,” KBB reported.

Why the lack of interest?

KBB explained in its latest Blue Book Market Report that the redesigned 2014 models of units such as the aforementioned domestic trucks are beginning to show up on dealers lots, cutting down on interest in used models.

The Chevrolet Avalanche, which was discontinued after model-year 2013, saw the largest truck price decline in June, dropping 0.8 percent month-over-month.