GAINESVILLE, GA – The average resale value for cars showed continued increase this week, while trucks declined slightly once again, according to Ricky Beggs, VP and managing editor for Black Book.
In his latest “Beggs on the Market” video, he noted this week demonstrated the “greatest weekly positive change in well over a year, with a $33 swing from -$11 to +$22.” Beggs attributed this to the majority 10 car segment types (seven) going up in average value for the week, with entry-level cars (+131) and entry mid-size cars (+41) experiencing the highest increase.
Meanwhile, Beggs reported trucks fell an average of $29, just a few dollars more than the previous two weeks. For truck values, the biggest movers were full-size pickups (-65) and full-size SUVs (-102).
In discussing recent retail activity and sales with dealers, Beggs said he was surprised to discover the lack of interest in the more fuel-efficient cars.
“With the interest and talk on the lanes from the past two to two and a half weeks continuing to be focused on more fuel efficient cars, I was slightly taken back after talking with a few franchised and independent dealers who said their most recent retail sales, both new and used, were trucks, SUVs, and mid and full-size cars, with very little increased interest in higher mpg cars,” Beggs said.