Used Sporty and Midsize Cars Drive Growth

Car values continued to rise last week, marking the seventh week of rising car values, driven in part by the performance of sporty and mid-size cars, according to Black Book’s April 30 Market Insights report.

Overall, wholesale car segment values were up 0.24% last week, compared to the 0.29% increase the week before. Sporty cars and mid-size cars both saw their respective wholesale values rise by 0.38% through the week.

Only two car segments, luxury and prestige luxury, saw their values decline through the week.

Overall truck segment values were down 0.06%, compared to 0.04% the week before. The strongest performers in the segment were subcompact, compact, and mid-size crossovers/SUVs. Respectively, these segments saw their values rise 0.16%, 0.08%, and 0.11%.

Similar to the car segment, the biggest declines within the truck segment came from luxury vehicles.

“Broad market strength seen last week across most car and truck segments. Luxury segments are largely sitting out the extended spring rally this year,” Anil Goyal, executive vice president, operations for Black Book stated in the weekly report.