GAINESVILLE, GA - This week, Black Book editorial efforts resulted in an average of 1,435 models adjusted each day during the past week. The results for last week had only two of the 14 truck segments decreasing in value and one of the 10 car segments dropping, according to Ricky Beggs, VP & managing editor at Black Book. Of the Clean condition adjustments, 66 percent were increases at a level just over $131.
“Almost every day during the last five to six months, we ask ourselves, just how high can the prices go,” commented Beggs. “Over the last three months, the trend has been very consistent. For 14 of the past 16 weeks, the overall car segments have been up in value while the truck market has been positive for the past 17 straight weeks. The bottom line is the auction activity has solid buyer interest with a few models being extremely strong. This past week we were not seeing as many cases where there were 3 to 4 bidders involved up until the final bid.”
Once the Cash for Clunkers program came to an end almost a month ago, the lot traffic has been almost non-existent, reported Beggs. With not as many empty holes to fill during the last few weeks, the current demand on the wholesale side may be temporarily slowing down.
To view this weeks video, visit www.BlackBookUSA.com.