GAINESVILLE, GA - The used-car market for the past week three weeks has been on a consistent pattern of adjustments being increases hovering around 41 percent.
According to Ricky Beggs, VP and managing editor for Black Book, "By segment type, the car segments declined an average of $32, almost identical to the -$31 average each week since the first of 2012. Although all 10 segments declined for the second consecutive week, the Full-size Cars (FSC), the Entry Level Cars (ELC) and the Compact Cars (SCC) all declined $13 or less for the week."
The truck segments continued to trend at more stable levels than the cars. This week at an average -$14 change is also consistent to the -$15 average change since the first week of 2012. This week three segments increased, while two others had no change for the week, according to Black Book. Those increasing were the Full-size Crossovers (FXU) at $21, the Full-size SUVs (FSU) at $8, and the Cargo Mini-vans (MVC) at $6. There were also three segments with only single digit declines. With gasoline prices at the pump continuing to gradually climb, the trend in trucks is actually following the consumer demand for the functionality of these vehicles and the limited supplies from which to choose.
"When compared to the truck changes from one year ago, the level of adjustments are in a very similar pattern. For the car segments the level of change over the past 3 weeks is just over twice the decline of year ago levels," Beggs said. "Over the week there were indications that the tax season money is closer to appearing across the country. Some dealers feel we are still two weeks away from a full push up for the more affordable cars. A few auctioneers say the activity is much improved with tax money already prevalent at many auctions."