GAINESVILLE, GA - Inclement weather canceled some auctions in Black Book's local area, moved them adifferent day, and/or only held online auctions. Black Book adjusted its auction attendance schedule and watched more physical auctions online all across the country, including Atlanta, Pennsylvania, California, and Florida.
From the parts of the country that were on normal schedules the data feeds and market reports from the Black Book survey personnel poured in as usual, according to Ricky Beggs, VP and managing editor for Black Book. "The feedback listed on the survey summaries talked about 'a very steady market' with several mentioning that 'pickups and SUVs were selling well and in demand' while the other end of the spectrum said 'small cars are getting interest,' " according to Beggs.
The results of the full week of adjustments resulted in an even higher percentage of adjustments being increases in values. This week was very strong, with almost 68-percent increasing. This strength came from more than 1,600 adjusted vehicles per day. There were also another 27 2010 and 2011 models included with their first market driven values.
"Even though the Premium Sporty Cars (PSC) and the Prestige Luxury Cars (PLC) returned to their more frequent $100-plus decline for the week, at the same time we had two car segments, the Entry Mid-size Cars (EMC) and the Entry Level cars (ELC) increasing for the week by $11 and $1 respectively," said Beggs. "Overall, the 10 car segments declined by $38, which is very consistent with the average change of the previous 4 weeks of -$33."
For the truck segments, 10 of the 14 segment types were increases over the week, reflecting several of the comments Black Book had received regarding stronger demand for trucks and SUVs. The segment with the strongest increase was the Luxury SUVs (LSU) at +$65.
Apparently, gas prices increasing to the $3 national average isn’t controlling the demand for some models that are not the highest in fuel efficiency," said Beggs.