Spring Buying Ramping Up at Start of February

Overall wholesale values last week were strong, indicating a possible early start to the spring sales season, according to Black Book’s Feb. 11 Market Insights report.

Overall car segment values were 0.04% higher last week, compared to a 0.21% decline the week before. Overall truck segment values decreased 0.19% last week, compared to 0.18% the week before.

Nearly all car segment values were up last week, but subcompact and sporty cars saw the biggest gains at 0.18% and 0.19% through the week.

Three vehicles within the car segment saw a decline in value: near luxury, prestige luxury, and premium sporty cars.

The biggest winner within the truck segment was the subcompact crossover segment, which realized the only week-over-week gain in value within the truck segment. Average values for subcompact crossovers were up 0.33%.

Depreciation among the other truck segment vehicles was similar for most vehicle segments, except for the minivan segment, which saw the biggest decline of 0.80% through the week.  

“It looks like the spring buying is already in full swing,” said Anil Goyal, executive vice president, Operations for Black Book. “Dealers are already bidding up prices on car segments with even the sporty cars getting an early interest.”