Last week, the market results struggled and after seeing the results of the most recent week of auction activity, we know it was the temporary end-of-the-month market, according to the recent Beggs on the Market Report by Ricky Beggs, VP and editorial director for Black Book.
"There was improvement in retention for the cars and trucks. There was less mention of no sales in the reports. The average segment change was better for both the cars and the trucks," according to Beggs. "Even though all the car segments declined, the change was only a -0.24-percent decline. There were only three segments with a decline of -0.5 percent or more for the week. Those were the Entry Mid-size Cars, the Upper Mid-size Cars and the Entry Level Cars, all being at greater declines than the week before."
The trucks did have a single segment type that increased this week, the Mid-size Pickups at +$12 or +0.10 percent. The overall average segment change for the trucks was -0.27 percent. Where the cars had three segments with -0.5-percent or more decline, the trucks had just one, the Full-size SUVs at -0.51 percent or -$78.
"There are still bright spots in the market with 26-27 percent of the adjustments being increases over the past three weeks, with the trucks having more positive changes every week since the week ending March 22," Beggs noted.
Another first to report is the initial 2014 model with market-driven used values. "If you are a mobile, Internet, or data subscriber you now have access to these values," Beggs said.
View this weeks "Beggs on the Market" video below: