GAINESVILLE, GA - Each day as Black Book Editors returned from the auctions, or signed off after viewing an auction online, it was a feeling of mixed results. Some lanes and segment types did really well, while others were less than aggressive.
According to Ricky Beggs, VP and managing editor for Black Book, "One survey person from Texas reported that 'truck and SUVs were slowing down' while another in the mid-west said “trucks are up a bit.' Maybe a continuation of vacations and the extreme hot weather has slowed retail and thus caused many dealers to 'be a little slower to replace inventory' according to another survey person. The one most consistent comment from the auction reports was that we were in a typical 'last week of the month' type market activity."
Overall, this past week was almost a mirror of the previous week as the total change of all adjustments at -$82 as well as the percent of increases and decreases in the necessary adjustments of 79 percent being down and 21 percent becoming raises to values. The difference was with the average adjustment increases was less this past week at +$113, as compared to the previous week of +$146. This past week we had the smallest number of adjusted vehicles in the past 12 weeks at only 1140 per day throughout the week.
"Focusing in on the car and trucks, the average car price change this past week at -$33 was the largest declining amount week over week since the week ending January 14, 2011. As an improvement, the average truck prices week over week change was the best in the past 5 weeks at -$43," said Beggs. "Continuing our look at the truck segment, even with the decline being the smallest since the week ending July 1, all 14 truck segments declined for the second consecutive week."
The largest declines were the Full-size Crossovers (FXU) at -$118 and the Mid-size Crossovers (MXU) at -$101. Ten of the 14 segments had improved week over week changes, meaning the decline in value was less than the prior week. The Mid-size Crossovers (MXU), although declining over $100, and the Luxury SUVs (LSU) both improved week over week by $34, the top improvement of all truck and car segments. Not far behind in improving week over week was the Full-size Pickups (FPT) at a $33 better change. Those segments with larger declines week over week were the Cargo Minivans (MVC) at a $29 greater decline than the previous week followed by the Full-size Crossovers (FXU) falling $18 more, the Passenger Minivans (MVW) at $17 more and a slightly larger decline of $4 on the Compact SUV (CSU), this week declining $36.
The car segments finished with only one segment improving with higher values for the third consecutive week. This week it was with the Near Luxury Cars (NLC) increasing by $3 for the week. Four of the car segment types declined more than the total car average change. Those include the Prestige Luxury Cars (PLC) at -$81 and the Entry Mid-size Cars (EMC) at -$52. The Upper Mid-size Cars (UMC) and the Entry Level Cars (ULC) at -$43 and -$41 respectively, were the other two greater than segment average changes.
