GAINESVILLE, GA – Black Book, vehicle pricing data company, announced the number of used vehicles whose value changed on Monday, June 8th, was 10,036, a single day record. Of that total, 9476 increased in value, while only 560 declined. The average dollar increase was $253, and the average decrease was $102.
Ricky Beggs, Black Book’s vice president and managing editor, commented: “We have been updating our used-vehicle values on a daily basis for a little over a year now, and we have never seen the volume of changes in a single day that we saw on Monday; in fact, the 10,036 changes our editors made is roughly double the previous high. The majority of the changes that were made were in the “Extra-Clean” and “Clean” categories, which reinforces the idea that really nice, low mileage used vehicles have become fairly scarce due to the drop off in new vehicle sales, and that dealers are willing to pay more for them.”
Tom Cross, president of Black Book, added: “Last year we saw selected vehicles dropping over a thousand dollars a day and many of those same vehicles have been rising steadily since the first of the year. By updating our values every day, Black Book’s editors are able to respond to changes within the marketplace very quickly, and provide our customers with the most up-to-date and accurate pricing information available. One thing has remained constant — dealers need to keep their lots stocked with inventory if they are going to be successful, and knowing exactly what a vehicle is worth on any given day is essential.”
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