GAINESVILLE, GA - The current used market analysis by the Black Book Editors included sufficient market information for another 60-plus 2010 and 2011 models to have their first market driven values published last week, according to Ricky Beggs, VP and managing editor for Black Book.
"The interest and demand for later model used vehicles, the 2007 to 2011 models, is increasing due to much anticipation of a shortage of many 2011 new models caused by the manufacturing challenges in Japan. The 2011s just valued are accessible in the Black Book Smartphone applications, internet suite programs and data files. Next week’s printed products will include the used 2011 model listings and values," said Beggs.
Overall this past week Black Book made an average of 1,075 vehicle adjustments every day, resulting in an overall positive change in values adjusted of almost $55. "The previous three weeks in the market had 70-plus-percent of adjustments being increases. This past week it was close to that level with 68.58 percent being increases. Where the previous week had stronger levels of increases for Clean condition, this past week the Clean and Average changes were more similar to each other," said Beggs.
The market continues a path of strength as the overall car segments increased $47 this past week, the 7th consecutive week of stronger values. "In fact, during the past six weeks, the only car segment to decline at all was the high dollar Prestige Luxury Car segment, which increased three times and decreased three times," noted Beggs.
With all 10 car segments increasing this week, the consistency among all segments was the closest in 2011. With the largest segment increase at $73 in the Upper Mid-size Cars (UMC) and the smallest segment increase of $14 on the Prestige Luxury Cars (PLC), the spread range from top to bottom was only $59. Compare this to the week ending March 4, 2011 where the spread was a whopping $218 with a +$131 on the Entry Level Cars (ELC) and -$87 on the Prestige Luxury Cars (PLC).
Although the truck segments are not as strong as the cars, they continue to be on a positive trend with overall increasing values for five consecutive weeks, according to Black Book. Three segments that trended differently over the last two weeks. With adjustments of $18 and $8 for the Full-size Crossovers (FXU) and Full-size Pickups (FPT) respectively for the week ending April 8, these two segments softened this past week to -$26 and -$10 respectively.
The Mid-size Pickups (MPT) strengthened this past week with a $9 increase, reversing the adjustment of -$6 for the week ending April 8.
Other consistent trending was seen in the Compact Crossovers (CXU) and Mid-size Crossovers (MXU) both having stronger values for the previous 8 consecutive weeks. The opposite trending is present in the Full-size SUVs (FSU), which have decreased in values for 12 weeks running.