From last week’s largest declines in the previous five weeks on the cars and for eight weeks on the trucks, the level of adjustment moved to a smaller decline in the most recent week-over-week comparison for both the cars and trucks, according to Ricky Beggs, VP and editorial director for Black Book.
When looking at the level of changes there were two segments with fairly significant improving levels of change. The Full-size Cars at only -$17 this past week is a $76 improvement. The Luxury Level Cars at -$56 was a $70 week-over-week improvement.
The two largest percentage declining segments have come from two extremes. The Premium Level Cars at -$202 and -0.73 percent were just less than the -0.78-percent change for the much lower-priced Entry Level Cars, which had a -$49 change for the week.
"If there was a consistency in the changes within the trucks it was within the mid and large utilities, both the crossover versions and the truck-based models," Beggs said.
Three had greater than -$100 declines beginning with the Mid-size SUVs at -$118 and -0.87 percent; followed by the Full-size Crossovers at -$110 and -0.52 percent; and the Luxury SUVs at -$109 and a much smaller -0.37 percent. The Mid-size Crossovers and the Full-size SUVs followed with -$90 and -$79 changes, which are still much larger than the overall truck segment average change.
"Each day, the editors found reasons within the data to adjust 1,780 vehicles per day, a slight increase over the 1,616 per day the prior week," Beggs noted. "There was one similarity, with both weeks 18 percent of the adjustments showing stronger values."
The update on the gas and diesel price changes brought a rather large week-over-week change of $0.07 better for the consumer on gasoline, but only a decline of -$0.02 for diesel.
"We currently have a gas-to-diesel spread of $.58, which is primarily driven by world demand for diesel. This is at a time when we are seeing a few more diesel model offerings in the U.S. market. This spread in pump price between gas and diesel during the past year has widened to as much as $.69 back last December 17, with a minimal gap of $.22 for the week ending May 20, 2013," Beggs said.
View this weeks' Beggs on the Market Video below: