If you’re waiting for used-car prices to come down any time soon, don’t hold your breath.
Given market dynamics — like reduced vehicle availability, competition in the auction lanes and consumers still buying cars but keeping their current rides — J.D. Power Valuation Services director of market intelligence David Paris says …
As overall wholesale prices gained another 0.11% last week, the newest installment of Black Book’s Market Insights began with analysts focused on two vehicle segments that often attract the most buyer attention.
Black Book said full-size trucks and compact cars have been “catching our eye in recent weeks … for their pricing movements are now doing so for different reasons.” Analysts indicated values for …
With Memorial Day Weekend unofficially starting summer and vacation season, Black Book noticed somewhat sleepy auction lanes last week and expects more of the same this week.
But there are some interesting trends emerging that could affect the shape of the wholesale market as the temperatures continue to rise.
“Many buyers seem to still be supplementing their auction purchases with direct-from-consumer purchases,” Black Book analysts said in the weekly Market Insights report released Tuesday. “Now there are companies with a business model of purchasing directly from consumers and selling through auction lanes, taking out some of the legwork for companies that may not have the time or resources to do it themselves.
“As we head towards the summer months, closed sales are expected to remain a popular means for OEMs to get available inventory to franchise dealerships, leaving others to compete for the picked over vehicles, at least until new-model-year launches are underway,” they said.
As it stands, the last full week of May showed wholesale prices increasing, albeit at a slower clip, Black Book said.
Overall, prices for the week ending Saturday were up 0.12%, compared to a 0.20% gain the week ending May 21.
Car segments were up 0.15% last week, versus a 0.37% rise the prior week. Trucks and SUV values were steady in their increase, rising 0.10%, compared to a 0.11% uptick the previous week.
Of note, all luxury segments showed declines, Black Book said. Premium sporty cars were down 0.49%, prestige luxury car values fell 0.18%, luxury car values were down 0.31% and near-luxury car values fell 0.13%.
Subcompact luxury crossovers were down 0.14%, compact luxury crossover/SUV values were down 0.08%, midsize luxury crossover/SUVs fell 0.03% and full-size luxury crossover/SUV dropped 0.48%.
Premium sporty cars, which had the most significant decline, have seen their values decrease for 25 straight weeks, Black Book said.
Look for another 1.6% increase in wholesale vehicle values this month, which would make it the third-strongest May of the last two decades, J.D. Power Valuation services said in an analysis Wednesday.
This surge in wholesale prices is part of a rapidly climbing overall used-car market this month, which J.D. Power’s Jonathan Banks says underscores the role of pre-owned as the market vies for replacement vehicles.
“May will be the third consecutive month in which …
Overall wholesale prices as well as values for both cars and trucks moved higher last week at almost the exact same pace as the previous week, according to the newest Market Insights released by Black Book on Tuesday.
The price climbs arrived as the estimated average weekly sales rate remained at …
Perhaps used-car managers at dealerships and futures traders on Wall Street are similar nowadays, based on what Black Book said is the current sentiment about new-car availability.
Analysts acknowledged in the newest installment of Market Insights distributed on Tuesday that “supply-chain issues continue to push the ‘return to normal’ new-vehicle production levels well into …
What dealers used to see in the lanes when May began still hasn’t returned. Those off-lease vehicles and fleet units wholesale buyers previously could procure about the time of the Kentucky Derby and Mother’s Day remain challenging to get, with prices continuing to tick higher week-over-week.
“The market continues to follow a new path of seasonality with the overall market having another week of increases last week,” Black Book said about the stretch that concluded on Saturday during which overall wholesale prices rose by …
After a gradual softening, Black Book noticed that overall wholesale market values increased for the first time since the week before Christmas.
According to the newest installment of Market Insights released on Tuesday, Black Book reported that overall wholesale prices ticked up …
With many locations still paying more than $4 for a gallon of gas, Black Book is noticing that car values are climbing at a rate, “larger than the typical increase for this time of year.”
In the newest installment of Market Insights, Black Book analysts pegged car values rising by 0.23% during the week that closed on Saturday.
That whoosh you just heard and felt might have been this year’s tax season.
Monday marked the deadline for individuals to file their state and federal taxes, and Black Book acknowledged that the spring / tax season market looks “different and shorter this year.”
