Tuesday, Mar. 03, 2020, 12:48 PM
Dealers are on the hunt for inventory that matches potential-buyer preferences as we continue toward spring. As a result, the latest Black Book Market Insight report details price moves on those more popular units, including trucks and SUVs as well as sporty cars and luxury models.
Black Book vice president automotive valuations Laura Wehunt — one of three executives recently promoted — said, “After months of strong luxury depreciations, we finally saw a positive adjustment for some of the luxury car and truck segments this past week.”
According to volume-weighted information contained in the newest report, Black Book reported overall car segment values increased by 0.05% this past week. Analysts pointed out this movement represented the largest positive change since the end of August, which the segment ticked up by 0.06%.
Black Book also noted sporty Cars are continuing their upward momentum with another increase of 0.28%. A week earlier, these vehicles rose by 0.38%.
Again looking at volume-weighted data, Black Book noticed overall truck segment values (including pickups, SUVs and vans) edged 0.01% lower last week.
Among trucks, analysts mentioned the sub-compact crossover segment increased for a fourth week in a row.
Turning next to what Black Book representatives stationed at nearly 60 sales nationwide, lane watchers captured anecdotes that might also be experienced by other used-car managers. Here is the rundown:
— From Pennsylvania: “Dealers are buying for inventory as the retail demand increases. Passenger vehicles were not in demand here today.”
— From Massachusetts: “The high-volume consignors said the money was good and in most cases an improvement from last week.”
— From Maryland: “I saw several passenger vans sell today for strong money. As for the SUVs in the sale today, the compacts sold the best.”
— From Georgia: “Trucks and SUVs sold at a high percentage. I made note of the fact that a great number of these units had low CRs and high mileage.”
Source : AutoFinanceNews
