GAINESVILLE, GA - The auto market activity and results for the last week was almost like two different markets, according to Ricky Beggs, VP and managing editor for Black Book.
"Many times when we say this, we are referencing the different trending between the cars and trucks, or between small cars and big trucks. But, this past week the differences were noticed between the Clean condition vehicles and the Average condition units," Beggs said.
According to Black Book, there were more Average condition vehicles adjusted than Clean with the Daily adjustments - 1,821 for Average and 1,454 per day for Clean. There were more of those Average condition adjustments that were increases as compared to Clean - 52 percent for Average vs 41 percent for Clean. Finally, the overall $ change of the adjustments was the Clean condition declining by $31 and the Average condition declining by only $17.
"I see this trending where the Extra Clean car values have been so strong, so an upward change was not necessary. And along with the push of tax season buyers having to get additional inventory to meet the market demand the top of the line car was also in demand," Beggs said.
Overall, Black Book ended up with five of the 24 total segments increasing for the week. Another change in the trending patterns was with more car segments increasing than trucks. The Entry Level Cars (ELC) increased by $28, while the Compact Cars (SCC) increased by $7, along with the Entry Mid-sized Cars (EMC) climbing by $4.
The trucks were positively led by the Mid-sized Pickup Trucks (MPT) that climbed the most at a $39 increase and the Compact SUVs (CSU) with a solid $22 increase.