With pumpkins permeating everything from lattes to yard décor, the appeal of summertime vehicles, especially sporty cars, is softening.
This week’s edition of Black Book Market Insights showed the premium sporty car segment experienced the biggest drop, sliding by 0.53 percent or $209.
Reviewing overall car segment values, editors found their volume-weighted information represented a decrease of 0.21 percent last week. In comparison, Black Book noted the market values of cars had decreased by just 0.09 percent on average during the prior four-week period.
Again volume-weighted, Black Book determined overall truck segment values — including pickups, SUVs and vans — softened by 0.16 percent last week. Editors indicated truck market values had decreased by 0.07 percent on average during the previous four-week span.
Among trucks, the report showed the full-size luxury crossover/SUV segment performed the worst, declining by 0.61 percent or $192.
“Overall, wholesale market values were relatively steady last week with the exception of some luxury and sporty car segments,” said Anil Goyal, executive vice president of operations for Black Book, who is among the collection of experts scheduled to share perspectives during Used Car Week 2018, which begins Nov. 12 at the Westin Keirland Resort and Spa in Scottsdale, Ariz.
Moving along to observations Black Book collected by attending nearly 60 sales nationwide, lane watchers touched on autumn arriving and how dealers are turning the metal they acquire at auction. Here is the rundown:
— From Tennessee: “Retail sales are slow, indicating a return to the more normal fall automotive season. Compact SUVs were the big attraction at the auction today.”
— From Massachusetts: “Today marked the first time in a long time that I heard the term ‘market adjustment’ mentioned. Prices across the board were just OK.”
— From Michigan: “The weather has turned more fall-like setting the tone for a softer market. Dealers were reporting a weaker retail market this week.”
— From Indiana: “Dealers are still buying as business remains strong especially for the nice, cleaner units.”
— From Illinois: “The auctioneers and several remarketers noted that prices were down slightly.”
Update on the specialty markets
The latest analysis from Black Book also included its monthly view of how the specialty markets are behavior. Editors summarized things this way:
— Collectible cars: When “Smokey and the Bandit” was released, Black Book pointed out that performance cars were at a low point, and the Pontiac Trans Am was really the only one still in the game. “The exposure it received revitalized the entire genre and made fast cars ‘cool’ again, leading to a resurgence we are still enjoying to this day,” editors said.
— Recreational vehicles: Black Book noted that the average selling price of towables at auction last month dropped nearly 10 percent, “which is a surprise, given their recent market trends.” Editors went on to say that “it’s important to note that they are still above where they were three months ago, and roughly the same as they have been for most of the year.”
—Powersports: Black Book said overall pricing in the Powersports market is mostly steady this month, with several segments that normally decline this time of year actually ticking up “a little bit.”
— Heavy duty: Editors noticed that buyers with equipment needs continue to pay for good spec, low-mileage trucks. “But they need to be more flexible as the real low mileage trucks become rare,” editors added.
— Medium duty: Editors closed by stating, “We’ve seen less depreciation on the older units mainly due to a limited supply and increased demand.”