Black Book executive vice president of operations Anil Goyal made the call.
“The spring market is here,” Goyal said in a segment of this week’s Black Book Market Insights report that illustrates the strength of the spring market where several midsize cars and van segments posted a notable increase.
“Led by midsize cars and minivans, the used-vehicle market showed a seasonal lift,” Goyal added in the report.
Based on volume-weighted information, editors indicated overall car segment values increased by 0.12 percent last week. That’s much different than what they spotted during the previous four weeks as Black Book had car segment values softening by 0.38 percent on average.
As Goyal noted, midsize cars led the way by rising 0.52 percent or $41.
Again connected to volume-weighted data, editors determined overall truck segment values (including pickups, SUVs and vans) decreased by only 0.19 percent last week. That’s less than half of the four-week average, which was 0.41 percent.
In the truck space, minivans experienced the highest increase, jumping by 0.43 percent or $46.
And now what Black Book representatives stationed at nearly 60 sales nationwide noticed, here are the anecdotes that lane watchers shared:
—From Georgia: “Lower priced crossover SUVs are selling the best. Dealers are saying that they have not seen an abundance of customers with tax refund checks yet.”
—From Indiana: “A good sale, including lots of lease returns and daily rentals, with all selling well. Prices seem to be experiencing an uptick.”
—From Florida: “There was a good crowd today. Prices were up on small and midsize SUVs while trucks and full-size SUVs had either no price change or were down a little.”
—From California: “The sale was very strong with lots of bidding activity and higher prices.”