GAINESVILLE, GA - The results of Black Book's market studies this past week showed a major turn into a more positive market. The number of vehicles adjusted on a daily basis was reasonably in line with most other recent weeks, this week averaging 1,734 per day, according to Ricky Beggs, VP and managing editor for Black Book.
The spring market has definitely arrived, as Black Book's adjustments showed over 66 percent of the changes were increases in value. The average change amount within those vehicles was a solid almost $120 increase. The overall change was $36. The last positive movement all adjustments in a weekly reporting period was back in the week ending May 20, 2011, with a +$20 level change.
"Two weeks ago, the car segments average change declined less than the trucks and had more positive changing segments than the trucks," Beggs noted. "This past week the car segments average change came in at a very solid -$1."
Within the cars this past week, seven of the 10 segments actually increased for the week. The two leading segments with increases were the Compact Cars (SCC) and the Entry Level Cars (ELC) which increased by $42 and $40 respectively. Two more were $25+ increases at $32 and $26 for the Entry Mid-sized Cars (EMC) and the Upper Mid-sized Cars (UMC). With only 3 segments declining the Premium Sporty Cars (PSC) dropped by $100 and the Prestige Luxury Cars (PLC) declined by $56. The Luxury Level Cars (LLC) fell by $5 to finish the week at pretty solid levels.
"The trucks finished the week on a positive note with an average segment change of $1," Beggs noted. "As gas prices continue to climb, the need and demand for trucks and utilities stands out as 8 of the 14 truck segments increased for the week."
The Mid-sized Crossovers (MXU) finished $42 better, with the Compact Pickups (CPT) at +$27 followed by the +$25 change of the Full-sized SUVs (FSU) leading the way. The segments declining the most were the Full-sized Crossovers (FXU) at -$68 and the Luxury SUVs down by $44.
"Will this trend of aggressively increasing values within both the cars and trucks continue?" Beggs asked. "The last time we saw this stable a level of values was in June 2011 for the cars and the last week of April 2011 for the trucks."