Spring forward? Not in used-car prices

It has been unseasonably chilly and cloudy near the North Carolina offices of Auto Remarketing in recent days — to the point where it doesn't quite feel like spring.
Folks selling used cars in the wholesale market probably can relate.
Black Book released a pair of analyses on Tuesday, one detailing wholesale price movement over the past month, the other dissecting the past week.
A common theme in both: the spring season just isn’t the same this year.
In the weekly Used Car Market Insights report, Black Book called this the “most glaring trend,” pointing out that prices on both cars and trucks were down last week.
A year ago, they were both up.
Specifically, cars were off 0.16 percent (volume-weighted), against a 0.17-percent gain in the same week of 2015. Trucks were off 0.14 percent after having climbed 0.06 percent a year ago.
“Small cars, crossovers and pickup trucks showed good performance; however, the spring season this year continues to be weaker than what we’ve seen in the past couple of years,” said Anil Goyal, senior vice president of automotive valuation and analytics, said in the weekly report.
The weekly report covers model years 2007 through 2013 and measures volume-weighted wholesale average values. The monthly report is specific to vehicles from model years 2010-2014.
For the month of March, cars showed a 0.4-percent price decline, with trucks down 1.3 percent, Black Book said in the monthly report.
Of the 22 segments included in Black Book’s data set, just three (compact cars and sporty cars at 0.6 percent and full-size cars at 0.7 percent) showed increases in price during March, with the subcompact compact crossover showing flat prices.
In that same analysis, the firm points out that overall depreciation was considerably stronger in the first quarter this year (3.6 percent) than it was in Q1 of 2015 (0.6 percent).
“While this is the time of year when values see noticeable strength, it’s very apparent that this year’s spring market isn’t as strong as it has been the last few years,” Goyal said in the monthly analysis. “More than ever, it’s important for dealers and remarketers to pay close attention to the data to spot the trends that can shape their inventory strategies for the remainder of the year.”