GAINESVILLE, GA – It was a very active week for Black Book editors as they experienced the largest number of average daily adjustments since the week ending March 19, when the count was 2,237 per day. The 1,826 average per day this past week was a 169-percent increase over the prior week of 1,083, according to Black Book.
For vehicles that changed, a solid 50-percent were increases in values at an average increase of $106, according to Ricky Beggs, VP and managing editor for Black Book With those remaining that were drops in value at a slightly higher overall drop, the overall change in the adjustments came in at just less than -$10. This is an improvement over the previous week of -$29.
“We had a third straight week where all 10 car segment types moved down from the previous week,” said Beggs. “Overall, car segments decreased at -$34, the same amount as the previous week. The near luxury cars (NLC) were the most stable only changing -$9. The prestige luxury cars (PLC) were the weakest for the third straight week changing -$129.”
Beggs also noted that the overall truck segments change was also the same amount as the previous week at -$29. “This week there were five of the 14 truck segment types that increased, led by the full-size pickups (FPT) going up in value $55,” said Beggs. “This is also a segment with back-to-back weeks of increases. A trend of the opposite direction is the full-size crossovers (FXU), which decreased over $102 in four of the past five weeks, and this past week at -$169.”
This is not a large segment with only 10 players, but one that has grown since the addition of most models since 2007, and has had some pretty strong retention levels as many buyers have switched from the full-size SUVs (FSU), notes Beggs. “Even with the recent weakness overall, those trim levels at the top with all the equipment, still do better than the overall segment,” he said.