GAINESVILLE, GA – The average values for both cars and trucks have continued to increase, with cars now up for five consecutive weeks and trucks for three weeks, according to Ricky Beggs, Black Book VP and managing editor.
Beggs reported an average of 1,461 vehicle values adjusted each day throughout the week, with the overall change of all adjustments increasing $71 – matching the record amount for the week ending April 9, 2010, almost exactly a year ago.
Entry-level and mid-size cars both increased by a significant $131. Four other segments climbed from $66 to $79 during the week – the entry sporty cars, premium sporty cars, compact cars, and the upper mid-size cars.
“I am not the least surprised as five of the [six] segments are made up of between 55-88 percent import vehicles and mostly smaller, more fuel-efficient models,” Beggs said.
Only one of the 10 car segments – prestige luxury cars – declined, experiencing a $15 drop the past week.
Several vehicle values were impacted by the extended plant closures in Japan, with some Prius model-years increasing by $800 and some late-model Mazda 6 going up in value by $700 for the week, Beggs noted.
On the truck side, only a few selected pieces depreciated, and the overall change level was up again this past week. Eight of the 14 segments were positive adjustments led by the $93 increase with mid-size crossovers. The softest segments were the full-size, luxury, and mid-size SUVs. Full-size pickups were also on the positive side this week at +$18, as well as compact pickups at +$11, which Beggs attributed to their “versatile functionality.”
More current 2011 model-years are also showing up in the marketplace, Beggs noted.