Black Book: ‘Strongest Week This Season’ In Lanes
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GAINESVILLE, Ga. –
Tax season buying and selling activity is still in “high gear” with April 15 quickly approaching.
That’s according to the latest Black Book Market Insights report, which showed strong price retention in the lanes last week for both cars and trucks.
On average, the car segments saw a $6 (or 0.5-percent) increase in prices, while trucks saw a spike of $25 (or 0.15 percent).
And the stability spanned segments, with most vehicles groups seeing prices rise last week.
“Markets continue to show broad strength across segments with both car and truck values appreciating last week in the strongest week this season,” said Anil Goyal, vice president of automotive valuation and analytics.
Black Book reported entry-level cars, entry-midsize cars and upper midsize cars showed particularly strong retention last week, with prices rising by $52, $38, and $52, respectively.
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And the entry-level segment spike of 0.73 percent was the biggest price increase out of all segments last week.
And compact SUVs and full-size pickups outperformed their truck counterpoints last week, as well. Compact SUVs saw a significant price increase of $135 last week, while the full-size pickups saw prices rise by $101.
Market strength was further illustrated by comments from the lanes Black Book analysts recorded last week.
For instance, this comment from the auction lanes in Florida: “Buyers and sellers were both feeling good with great attitudes about the market.”
Or, this one from from Greensboro, N.C.: “The crowd was larger this week than last week with units still selling very well.”