Lane watch: Acceleration toward spring market slows

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LAWRENCEVILLE, Ga. –
After lane activity seemed to be accelerating quickly toward spring-market conditions, Black Book noticed auction atmospheres throttled back down a bit, according to the latest installment of its Market Insights report.
The value trends analysts discovered — coupled with anecdotes from representatives in the field — prompted Black Book executive vice president of operations Anil Goyal to say, “The overall market remains steady.
“Values of mainstream midsize cars experienced a slight increase last week,” Goyal added in the newest report.
While those midsize cars edged up 0.15% or $13, Black Book reported that its volume-weighted data showed overall car segment values decreased by 0.21% last week. That figure exactly mirrored the four-week average analysts computed.
Countering the uptick for midsize cars, Black Book indicated sporty car values decreased the most, sliding by 1.17% or $162. Prestige luxury cars (down 0.83%), subcompact cars (down 0.58%) and full-size cars (down 0.52%) each softened noticeably, too.
Black Book’s volume-weighted truck data showed overall values segment (including pickups, SUVs, and vans) dipped by 0.18% last week. That’s half of the four-week average decline of 0.36%.
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Analysts pointed out subcompact luxury crossover declined the most, dropping by 0.75%. Conversely, Black Book spotted rises for minivans (up 0.38%) and compact vans (up 0.34%).
Moving on to what Black Book representatives at nearly 60 sales nationwide shared, the anecdotes reinforced reasons for the values movements. Here is the rundown:
— From Texas: “The consignment was lower today, which resulted in dealers complaining about higher prices.”
— From Michigan: “Both wholesale and retail are soft here. A good amount of the buying at the auctions are from out of state buyers.”
— From Missouri: “Prices were strong early regardless of condition, but as the sale continued bidders were dealing with higher floors. SUVs and full-size trucks dominated the sale.”