While the price performance of compact cars caught the attention of editors this past week, Black Book personnel at the auction also noticed activity in the lanes picked up considerably during the second full week of 2017.
The latest Black Book Market Insights report showed compact cars retaining their values better than most segments last week. But out of all segments, editors determined it was the subcompact crossover that maintained and even increased in value.
“It is interesting to see that while compact cars did very well in holding value last week, sub-compact cars continued to experience sharp decline.” said Anil Goyal, senior vice president of automotive valuation and analytics at Black Book
Volume-weighted, editors indicated overall car segment values decreased by 0.41 percent last week; lower than the average depreciation rate of 0.51% seen in the previous four weeks.
Black Book determined prestige luxury car and subcompact car segments declined the most by 0.69 percent and 0.64 percent, respectively.
Volume-weighted, editors noted overall truck segment values — including pickups, SUVs and vans — decreased by 0.37 percent last week; lower than the average depreciation rate of 0.47 percent reported during the previous four weeks.
Editors added that prices in the full-size van and full-size luxury crossover/SUV segments declined the most — both by 1.04 percent.
As vehicle values changed, Black Book lane watchers noticed dealer bidding picked up in most places where reports surfaced.
The most activity evidently originated in California as representative said, “The market is good here with Utility Vehicles in highest demand,” while another observer added, “Prices held up well here today with many consignors having a good overall sales rate.”
In Arizona, a similar scene unfolded as Black Book reported, “Prices were higher here this week. A great start to the New Year.
And in Texas, “Attendance was up today compared to last week, and sales were strong.”
A couple of softer spots came from Tennessee as Black Book’s representative said, “Good selection of inventory here today but sales are still a little slow overall.” Up in Washington, it was sluggish, too, as the lane watcher said, “Tough sale here today with plenty of no-sales.”