With some upbeat signs in the lanes that dealers are preparing to move used metal as the summer heats up, the Black Book Market Insights report showed car and truck segments depreciating at the same level.
Editors determined that both overall segments softened by 0.25 percent last week. They also mentioned compact vans performed the best, increasing their value by 0.07 percent, while sporty cars saw no price declines during the week.
“Overall, the wholesale markets performed well last week. Weaker spots were seen in the sub-compact crossover and compact crossover/SUV segments,” said Anil Goyal, Black Book’s senior vice president of automotive valuation and analytics.
As mentioned, volume-weighted data showed overall car segment values decreased by 0.25 percent last week, lower than the average weekly decrease of 0.39 percent in values over the previous four weeks.
Black Book pointed out that prestige luxury car, midsize car and full-size car segments declined the most by 0.52 percent, 0.45 percent and 0.42 percent, respectively.
On the truck side, again, the volume-weighted information showed the overall segment values (including pickups, SUVs and vans) dipped by 0.25 percent last week, higher than the average weekly decrease of 0.18 percent in values over the previous four weeks.
As Goyal alluded to, sub-compact crossover, sub-compact luxury crossover and compact crossover/SUV decreased the most by 0.51 percent, 0.47 percent and 0.44 percent, respectively.
Turning next to Black Book’s representatives in the lanes, one of the most interesting anecdotes came from Pennsylvania.
“Was an OK sale here today. It was worth noting that most of the buyers were online and not in attendance,” Black Book’s auction watcher in the Keystone State said.
Sticking in the Northeast, the lane watcher in Massachusetts recapped, “Today’s auction was better than last week and prices were stable.”
Sliding over to the Midwest, the report out of Wisconsin noted, “Dealers were cherry picking today.” But in Indiana, the action was a little bit livelier.
“A good sale today but consignment was down again, which helped keep the values up. Dealers here are buying in order to have inventory for what is expected to be a decent summer market,” the Black Book representative stationed in the Hoosier State said.
Down in Texas, the scene was, “Prices are holding steady here as bidding was good, as was the number of consigned vehicles.”
Wrapping up the auction action roundup, Black Book’s observer in Florida added, “The commercial lanes did better today. The dealer lanes struggled with lots of no-sales.”