Dealers don’t have to meander through the lanes or go on their smart devices for significant spans to know the spring market is in full bloom.
How long it might last is the question Black Book looked to answer in its newest Market Insights report.
Editors indicated spring activity continued to roll on this past week, with four specific car segments and three truck segments generating the most price activity.
However, Black Book executive vice president of operations Anil Goyal doesn’t suspect that lane intensity will continue too much longer.
“The spring market continued to show strength last week. However, it’s not expected to last long as sales percentages are starting to come down from their peak,” Goyal said in the latest report.
An auction owner from South Carolina who talked with Black Book went so far as to make this assessment: “It feels like the robust spring market is beginning to fade. Our sales percentages are beginning to come down to levels that are typical during the summer months.”
According to volume-weighted information, Black Book determined that overall car segment values increased by 0.29% last week. That’s more than triple the average increase spotted during the previous four weeks; a reading at just 0.09%.
Among those cars, editors noticed full-size cars increased the most, rising by 0.76%. But sporty cars, subcompacts and compact cars weren’t far off that pace as each segment jumped by at least 0.53 percent.
Again, based on volume-weighted data, Black Book indicated overall truck segment values (including pickups, SUVs, and vans) ticked up by 0.19% last week. That level is slightly higher than the four-week average rise, which was 0.16%
In the truck space, minivans, midsize crossover/SUVs and small pickups generated the highest increases, climbing by 0.59%, 0.55% and 0.54%, respectively.
Furthermore, Black Book’s lane observers stationed at nearly 60 weekly sales nationwide collected anecdotes that further showed how the 2019 spring market is unfolding.
Here is the rundown from the other sale locations Black Book reported:
— From Georgia: “The spring market is still going strong. There was a good crowd with competitive bidding and very few no-sales. The only vehicles that seemed a little soft were the luxury vehicles.”
— From Pennsylvania: “This is a very hot market. Of all the lanes here, the truck lanes were the most active with most selling and for good prices.”
— From Michigan: “The market is up as dealers remain positive, although we are hearing reports of low trade-in volume.”