Black Book didn’t spot any post-Thanksgiving surprises in the wholesale market.
According to its newest installment of Market Insights, wholesale values decreased 0.72% last week; an amount just 10 basis points below the average decline Black Book recorded during the same week in
Thanksgiving dinners with family and friends likely provided the main ingredient for a wholesale market recipe that prompted Black Book to report the lowest amount of value decline analysts have seen since the third week of July.
Black Book’s newest installment of Market Insights indicated that wholesale prices softened by just …
Your nearby grocery store or big-box retailer might be bustling for the next several weeks as people get holiday gifts and meal ingredients.
The scene at your favorite auto auction might be much less active, based on the projections Black Book shared on Tuesday through its latest installment of Market Insights.
The foundation for that forecast came as analysts said the estimated average weekly sales rate continues to drop, sliding to …
Evidently, franchised dealerships are on the hunt for inventory, with independent stores and the new normal of 2002, those rental car companies, stepping back at the auction.
That’s the notable observation Black Book shared on Tuesday through its Market Insights that also detailed wholesale prices softening another 1.05% and the estimated average weekly sales rate dropping to …
Autumn continues to bring some pricing relief to the auction lanes, with at least two indices hitting their lowest levels in more than a year.
After a 2.2% month-over-month and 10.6% year-over-year decline (when adjusting for mix, mileage and seasonality), the Manheim Used Vehicle Value Index was at its lowest level in 14 months.
That’s according to parent company Cox Automotive, whose data indicates …
Black Book is expecting wholesale movement for the remainder of the year to resemble what analysts observed in October, which produced a 1.2% decrease in the firm’s Used Vehicle Retention Index.
Now on a downward streak of four months in a row, the index dipped another 2.2 points from September’s reading to 174.3, which left it 3.3% below October of last year, but still 52% above the pre-pandemic level recorded in March 2020.
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published wholesale average value on 2- to 6-year-old used vehicles, as percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage and condition.
“Wholesale prices for the 2-6-year-old vehicle segments that comprise of Black Book’s Used Vehicle Retention Index continued to decline in October at rates above expected seasonal depreciation,” Black Book chief data science officer Alex Yurchenko said in a news release.
“Typically, we observe the highest decreases of wholesale prices in Q4. This year will not be an exception, and we expect the declines in the next two months to match the historically high rates typically observed at the end of the year. We are also starting to see used retail prices decrease, although not as steeply as wholesale prices,” continued Yurchenko, who is among the speakers at Used Car Week, which begins on Nov. 14 in San Diego.
According to the newest installment of Black Book’s Market Insights, wholesale prices softened another 1.19% last week, prompting analysts to wonder when buyers and sellers will find “middle ground” in the market.
Black Book explained its reasoning, as its estimated average weekly sales rate remained at …
Black Book said on Tuesday that the wholesale market is continuing to experience larger than typical value declines for this time of year, as overall prices slid another 0.76%.
But what be even more interesting are the sale day anecdotes analysts shared in their latest installment of Market Insights, which mentioned the estimated average weekly sales rate dropped to …
The numbers around new-car affordability (or lack thereof) are quite staggering.
According to data from Cox Automotive and Moody’s, to buy a new car in September would have taken 42.2 weeks of median income. That’s up 9% year-over-year, Cox said in a Data Point report, also noting that auto finance interest rates were at their highest levels in 15 years.
And here’s the kicker, particularly for dealers looking to offer late-model used as an alternative: the affordability of 3-year-old pre-owned vehicles has …
The experts at Black Book and Cox Automotive are seeing wholesale prices and auction sales rates decline this month. The severity of those movements depends on which report you examined on Tuesday.
Beginning with Market Insights from Black Book, wholesale values softened another 0.82% last week, which was …
