GAINESVILLE, GA – It’s been another busy and very interesting week for the Black Book auction survey personnel across the country, and also for the its editors as they gathered market information and analyzed data to make the necessary Daily adjustments, notes Ricky Beggs, VP & managing editor for Black Book in his weekly report.
“There are enough questions in the market that have lead me to many one-on-one conversations with manufacturers, financial remarketers, retail independent dealers, rental companies, and franchised dealers during the past week,” said Beggs. “Some are concerned with the struggles to get the retail consumer financed when they are ready to buy. Some buyers are wondering if we may be at the beginning of a needed downward adjustment in the used values. Several commercial remarketers are concerned, due to their sales conversion rates not being what they have been accustomed to during the unprecedented strong run from spring, summer and into the early fall. Having to adjust floors down is harder to do right now, but may be necessary.”
Beggs said he isn’t waving the flag very high, “but some of the comments from the survey personnel make us focus on the possibilities of a changing market. Feedback saying ‘getting softer…going through an adjustment….settling out…buyers being more selective…’ all indicate the market is just not as aggressive. Never is there a more important time than now to watch the numbers and market values on a Daily basis.”
The 10 car segments Black Book tracks again showed more stability overall as only one segment, premium sporty cars, went down this past week. According to Beggs, “The real change showed up with six of the 14 truck segments we track finishing with negative adjustments while the total truck segment average finished down for the first time since the week ending May 15.”
The truck segments have been on a roll since last fall. “This week the trend may pick up again or may continue as last week,” said Beggs.