Most prominently mentioned at recent auctions, according to Black Book, was how the Memorial Day holiday affected the wholesale market. At least word on the street was that retail activity was much better, which could lead to a more active wholesale market this coming week to fill many of those empty holes.
by Staff
June 3, 2013
BEGGS
2 min to read
Most prominently mentioned at recent auctions, according to Black Book, was how the Memorial Day holiday affected the wholesale market. At least word on the street was that retail activity was much better, which could lead to a more active wholesale market this coming week to fill many of those empty holes.
After the market analysis was completed for the week the trend within the car segments had a fourth consecutive week of greater than -$40 average segment changes at -$48 for the most recent week, an increase above the -$43 the previous week, according to Black Book.
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BEGGS
"Supporting the greater declines was that six of the 10 car segments had greater declines this past week," said Ricky Beggs, VP and editorial director for Black Book in his recent Beggs on the Market Report. "Those that held value better were the Premium Luxury Cars with a $9 improvement, the Entry Level Cars at $10 better with both the Entry Mid-size Cars and the Upper Mid-size Cars at $19 and $41 better change level than the previous week. As a comparison to the overall market, one year ago the cars had a -$31 average segment change."
The trucks average segment change matched the level of decline of the cars at -$48. The trucks haven’t exhibited this level of change since the week ending November 16, 2012, which was at -$65, noted Black Book. The trucks have been the more stable market than the cars since the week ending February 15, 2013, when the cars changed by -$18 and the trucks at -$19. So what stood out in this week’s changes within the trucks? There were eight of the 14 truck segments that had the largest declining amount over the past six weeks. The second point of interest is the steady and longtime increasing decline within the Compact Crossover Utilities. There are six weeks of decline and five consecutive weeks have been larger declines in each succeeding week, finishing at -$67 this past week. The next change trend is within the -$52 change for the Mid-size Pickups. This is the first weekly decline for this segment over the past six weeks. Even more surprising was the level of decline within the Full-size Pickups at -$49 following one increasing week wrapped around by four weeks of single digit declines.
"We need to finish this market report with a final thought that the real driver of this past week’s market movement is probably driven by a combination of the earlier mentioned holiday affected market and also the sometimes overlooked 'fifth week of the month' of auctions," Beggs said.
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