With perhaps a sign the spring market might be in its latter stage, a handful of car segments that have continued to increase in value, according to Black Book.
The latest Black Book Market Insights report showed smaller car and sporty car segments demonstrated the strongest price performance last week.
“Broad market strength was seen last week across most car and truck segments. Luxury segments are largely sitting out the extended spring rally this year,” said Anil Goyal, executive vice president of operations at Black Book
Volume-weighted, editors determined overall car segment values increased by 0.24 percent last week. That reading remains on par with what Black Book has noticed for a month as car values had increased on average by 0.23 percent per week during the previous four weeks.
Editors pointed out that the midsize car and sporty car segments increased the most in value last week, each climbing by 0.38 percent.
Again volume-weighted, Black Book found that overall truck segment values (including pickups, SUVs, and vans) decreased by just 0.06 percent last week. In comparison, the values had decreased on average by 0.13 percent per week during the previous four weeks.
Within trucks, editors noted the compact luxury crossover/SUV and midsize luxury crossover/SUV segments decreased the most in value last week at 0.38 percent and 0.34 percent, respectively.
Turning next to what Black Book representatives noticed in the lanes, the report surfacing in Florida indicated that perhaps the spring momentum might be starting to wane.
“The dealer consigned vehicles struggled mightily with an abundance of no-sales. The market here is experiencing a post-tax season adjustment,” the lane watcher in the Sunshine State.
Meanwhile, moving into the Midwest, the auction activity seems as robust as ever.
“The retail used vehicle market remains good here, so dealers are buying at auction. Full size SUVs remain scarce,” Black Book’s representative stationed in Indiana said.
Sliding East to Pennsylvania, auction is lively, especially when certain models roll over the block.
“Dealers are having difficulty finding and purchasing enough trucks and SUVs for their lots. Because of this shortage, prices remain strong on those models,” Black Book’s personnel from the Keystone State shared.
Finally, out in Colorado, the spring market might be changing there, too.
“It is still a sellers’ market in Colorado, but the momentum has recently slowed a bit,” Black Book’s representative said.