GAINESVILLE, GA - Auctions all across the country provide more than just a venue for dealers to buy and sell used vehicles. They take time to support many non-profits and community needs with tremendous donations throughout the year. They also take the time to thank their customers with special events and prizes.
"Taking a look at the actual adjustments this past week brought us the overall change of just over -$80, which is less than the -$105 the previous week, and more in line with three and four weeks ago," said Ricky Beggs, VP and managing editor of Black Book. "With 20 percent of the changes being increases the average increasing adjustment at +$147 was similar to the increases of April and May when the market was really aggressive. The most recent previous five weeks of increases averaged $113, so for those increasing, this past week was at a stronger level."
The past four weeks the overall car segment changes have been steady in the low -$20 range. The past week at -$25 overall was comprised of only one segment type that increased, the Premium Sporty Cars (PSC) at +$3. The Upper Mid-size Cars which fell by $57 and the Entry Mid-size Cars (EMC) at -$42 declined the most for the week. Dealer feedback continues to indicate that the 4 cylinder version vehicles gather the most interest.
The overall truck change at -$55 was the largest overall decline since the week ending November 5, 2010 at -$58. There were three segments declining over $100 led by the Mid-size Crossovers (MXU) at -$135. The Full-size Crossovers (FXU) at -$110 and the Luxury SUVS (LSU) at -$101 completed those segments at that triple digit level change.
The Cargo and Passenger Minivans (MVC & MVW) declined the smallest amounts for the week at -$18 and -$27 respectively. Other segments doing better than the group average were the Full-size Vans for both cargo and passenger versions (FVC & FVW) and the Compact SUVs (CSU). Other than the 3 century level moves, only the Compact Pickup Trucks (CPT) at -$61 declined greater than the group average.
"Even though the overall changes represent a market that continues to ease down to make room for another model-year of vehicles, we continue to see the exception to softening values when the really nice, low mileage, right equipment and right color vehicle shows up. The demand is still strong for that special vehicle, both wholesale and retail," said Beggs.
This past week Tom Cross, president of Black Book and Tim West, VP and North American Auction director attended the 16th annual DAA Northwest Rock and Roll sale.
"Our thanks go out to Bob McConkey and Greg McHugh and their team for once again having Black Book as part of this tremendous event held to show their appreciation to the dealers and their business at DAA Northwest," said Beggs.