Lane watch: Normally light start opens 2020

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LAWRENCEVILLE, Ga. – 

It appears 2020 began with light activity in the lanes and wholesale prices adjusting in ways Black Book considers normal for the opening days of the year.

Black Book’s latest Market Insights report showed values for both cars and trucks softened at a much lower level than what analysts noticed during the previous four weeks.  

“The depreciation rate normalized in the first week of the new year after several weeks of steep declines in Q4 of 2019,” Black Book executive vice president of operations Anil Goyal said in the newest report.

According to volume-weighted information, Black Book reported that overall car segment values decreased by 0.26% last week. In comparison, analysts determined car values declined an average of 0.78% during the previous four weeks.

Among cars, analysts indicated values in the near luxury car and prestige luxury car segments decreased the most, sliding by 0.56% and 0.63%, respectively.

Again based on volume-weighted data, Black Book determined overall truck segment values (including pickups, SUVs, and vans) dropped by 0.44% last week. Like in the car space, the truck drop-off was less than the four-week average, which analysts pegged at 0.76% over the recent four-week period.

Within trucks, Black Book mentioned mainstream crossover/SUV segments decreased the least with the subcompact segment ticking just 0.17% lower.

The anecdotes coming from Black Book’s representatives stationed at sales nationwide also were on the light side to begin 2020.

One lane watcher in Michigan said, “Sales percentage seemed low. There were very few people bidding in the lanes and online.”

And an observer in New Jersey added, “Midsize cars sold well, but SUVs had a tough time getting bids.”



Source : AutoFinanceNews