Volume-weighted, overall car and truck segments both showed signs of slowing with the overall market decreasing by 0.15% this past week, compared to a 0.14% decrease the prior week, according to Black Book’s recent Market Insights report.
Volume-weighted, overall car segment values decreased 0.38% over the last week. The declines in the car segments started three weeks ago and are continuing to pick up the pace each week. For comparison, the prior week’s change was a 0.26% decline.
Compact, prestige luxury, mid-size, sub-compact, and sporty car segments all had large week-over-week decreases that exceeded to a 0.40% decline.
Premium sporty and near luxury cars were the only segments to show continued appreciation. However, sales rates on luxury units were lower this past week, so it is expected those values will also begin to decline as sellers will likely adjust floors.
When volume-weighting is applied, the overall truck segment (including pickups, SUVs, and vans) values decreased by 0.02% last week.
Minivans took the biggest dip this past week with a 0.64% drop, as compared to 0.25% the week prior. Full-size trucks continued to show dominance on the lanes as the short supply of new trucks is driving up the demand and prices of used.
Compact luxury crossovers and compact vans both showed gains again this past week, but all other segments showed signs of softening.