The spring market is starting to bloom at the auction.
This week’s edition of Black Book Market Insights report included slowdowns in vehicle value decreases as well as rising sales percentages, especially if trucks and SUVs were included in the lane.
“The first sign of the spring market showed up last week with mid-size cars experiencing an increase in value. In comparison to last year, the used auto market shows a lag in seasonal lift,” Black Book executive vice president of operations Anil Goyal said in the report.
Volume-weighted, editors indicated that overall car segment values decreased by just 0.19 percent last week. In comparison, Black Book pointed out that the market values for cars had decreased by 0.43 percent on average during the previous four-week period.
Among cars, editors noticed the values of midsize cars actually increased by 0.33 percent or $26.
Again volume-weighted, Black Book said overall truck segment values (including pickups, SUVs and vans) softened by 0.39 percent last week. That’s slightly less than the previous four-week average, which was 0.41 percent.
In truck space, editors determined full-size vans experienced the biggest drop, sliding by 0.85 percent or $117.
Turning next to what Black Book representatives stationed at nearly 60 sales nationwide noticed, the leading anecdotes focused on sales performances. Here is the rundown:
— From Pennsylvania: “The sales percentage was close to 70 percent today, which made for a really good sale. Trucks and SUVs both sold well.”
— From Texas: “We had a good day with one of the lanes selling 70 of the 85 vehicles offered. It was probably not a coincidence that most of the vehicles in that lane carried a (condition report) of 4.0 or higher.”
— From Tennessee: “SUVs were in demand which resulted in a lot fewer no-sales since there were a lot of them in the sale.”
— From South Carolina: “Attendance was the highest it has been since last spring. The auction GM said that the independent dealers are reporting really good activity on their lots.”