Lane watch: Frenzies ensue when clean, low-mileage vehicles cross the block

Auctioneers and ringmen need reflexes the caliber of professional athletes nowadays, especially if a clean, low-mileage vehicle is crossing the block.
Black Book recapped intensifying scenes now happening at auctions, as dealerships and yes, rental companies, vie for models that satisfy their respective customers.
In the latest installment of Market Insights, Black Book experts said, “After the Thanksgiving holiday, activity on the lanes resumed and prices and sales rates increased. As the shortage of new vehicles continues, vehicles with low miles continue to warrant the most attention.
“December started off strong with slightly higher volume in the lanes,” analysts continued in the report released on Tuesday. “The inventory coming through seems to have lower condition report grades and a higher percentage of recalls, damages and manufacturer buybacks.
“Rental companies haven’t slowed down their purchases and the presence of larger independent dealers has started to make a comeback in the lanes, increasing the level of competition for the few clean vehicles that run. Floor prices are holding steady at a record high level, even on less desirable units,” Black Book went on to say.
Overall, Black Book said values rose another 0.41% last week. Remember when prices softened this time of year? Analysts do as they pointed out the average decline at this point in 2017 through 2019 was 0.70%.
Price movements of one of the car segments showed again how bizarre the wholesale market is. Black Book said compact cars generated 15 consecutive weeks value of gains until this past week when they softened by 0.15%.
However, analysts pointed out that prices for compact cars 2 years old and newer increased by 0.11%.
Black Book added that prices for midsize cars (up 0.34%) rose more than the overall car reading (up 0.25%). Values for midsize cars now have climbed for 16 weeks in a row.
Looking at the truck market, Black Book said its volume-weighted data showed values for trucks more than doubled their increase week-over-week, rising by 0.21% during the week of Thanksgiving and then another 0.50% a week ago.
The vehicles bringing your online gift orders or the repair crew to your home continue to post soaring values.
Black Book pegged the price increase for compact vans at 2.55%, extending the run of 42 of the past 44 weeks of increases.
Analysts added values for full-size vans rose another 0.62%, representing an uptick during 44 of the past 45 weeks.