GAINESVILLE, GA – The used-car market continues to be active and strong with very good sales percentages at auctions, according to Ricky Beggs, VP & managing editor at Black Book.
“We continue to hear and see the concerns regarding a shortage of used vehicles from which to choose. One of our survey personnel reported dealers ‘grumbling about the high prices.’ It was a relatively stable week for values with an average of 1475 vehicles being adjusted each day,” said Beggs.
This past week, five of the 10 car segments Black Book tracks finished with positive adjustments, with an average increase of $13. With eight-straight weeks of positive trends on the car models, the $13 increase was the smallest movement in the past six weeks.
The truck market continues to rise, with 10 straight weeks of gains. For the last two weeks, 13 of the 14 truck segments were up. Two weeks ago, the full-size SUV segment was the only downward segment down $9.
The “Cash for Clunkers” program officially started July 27th. After much anticipation, and even some dealers jumping the gun, this program has created interest at new-car dealerships, according to Beggs. “The only ‘new,’ or at least less talked about condition is the title must be free and clear of any and all liens at trade in. As you participate in this program, just make sure you have all the ‘I’s dotted and the T’s crossed in order to get the $3,500 or $4,500 refund from the government,” said Beggs.