GAINESVILLE, GA – The percent of increases fell under 60 percent for the first time in eight weeks. While there are still more increases within the necessary market adjustments, 58 percent of the adjustments were raises to the values.
While there are still more increases within the necessary market adjustments, 58 percent of the adjustments were raises to the values. The average increase of +$121 was down slightly from the $128 increase in the prior week. Overall the difference, taking all changes into account, brought an increase of $14.26 for clean condition models and +$11.70 for average condition models, reported Beggs.
Entry mid-size cars led the car segments, up $42, while entry-level cars followed by a $34 increase. Prestige luxury cars went down $22. “With overall car segment changes still above the $0 baseline, the increase week over week is getting smaller each week,” Beggs said.
Truck segments are still holding their own, trending above the $0 baseline for the sixth consecutive week. Only five of the 14 segments declined for the week with full-size SUVs down by $127, followed by full-size crossovers down $47. On the opposite end of the adjustment amounts, compact pickups showed amazing strength at +$108, the seventh of the last eight weeks with stronger trending values for this segment.
Because of the still limited supply of used vehicles to choose from, several auctioneers reported seeing the bidding “not as strong to get that extra dollar,” Beggs noted. “There is still the concern as to a possible limited supply of some new models due to the effects of the Japan earthquake damage. The already announced extension of lower production levels from many plants will make the availability of certain models be more exacerbated in the next several weeks. As one dealer told me when you are selling 70-80 units a month, with limited models coming down the pipeline, it doesn’t take long to run out of inventory.”
See all comments