For used-car managers who watch for a sharp wholesale price jump in sporty cars as a sure tell that the spring market is taking hold now have confirmation thanks to the newest Black Book Market Insights report.
Black Book reported that values for sporty cars increased 0.38% percent this past week, mirroring the rise generated by luxury cars. Analysts indicated increases for full-size cars (up 0.34%) and near-luxury cars (up 0.26%) weren’t far off that pace.
“Signs of spring are continuing to show on the auction lanes as sentiments are positive and values are strong,” Black Book principal automotive analyst Laura Wehunt said in the latest report.
That car pricing activity pushed the overall volume-weighted reading up by 0.02%. A week earlier, car values softened by 0.11%.
Over in the truck space, Black Book reported that its volume-weighted data showed that overall truck segment values (including pickups, SUVs and vans) dipped by just by 0.08% last week.
Analysts noticed that values of the affordable sub-compact crossover segment increased for the third week in a row, climbing by 1.24% this past week.
More indications of the spring market taking hold arrived via the anecdotes shared by Black Book representatives stationed at nearly 60 sales each week. Here is the rundown:
—From California: “We had a very strong sale with lots of dealers left scratching their heads over the high bids.”
—From Tennessee: “The market is improving with pick-ups and compact SUVs leading the way.”
—From Indiana: “Retail has improved here pushing the auction prices up. Anything nice will bring the money.”
—From Arizona: “Dealers are commenting that the strong economy, tax season and spring weather are coming together for a really good market the next few months.”