Wholesale values for the entire sedan segment dropped after appreciating for the previous three weeks, according to Black Book’s Sept. 25 Market Insights report
Overall values for cars were down by 0.20%, after posting an average growth rate of 0.05% per week during the previous two weeks, according to the report. The two biggest drops from individual sedan segments include prestige luxury cars, which declined 0.51%, and full-size cars, which fell 0.37%. However, this decline may be short-lived, due to the effects of Hurricane Florence.
“Car segments’ values declined a little after appreciating for three straight weeks. The impact from Hurricane Florence is expected to result in the destruction of about 20,000 vehicles, creating a spike in demand for replacement vehicles in the Carolinas," said Anil Goyal, executive VP, operations, for Black Book.
Looking at truck values, volume-weighted, the overall truck segment (including pickups, SUVs, and vans) values remained nearly flat last week. In comparison, the values had decreased at an average rate of 0.06% per week during the previous two weeks.
Among truck segments, compact van values decreased the most last week, dropping 0.89%. The entire truck segment posted a 0.01% drop.