Volume-weighted car values decreased by 0.76 percent, last week, the most in last 52 weeks while the volume-weighted truck values decreased by 0.25 percent last week as pickups and SUVs continue to perform better than cars.
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The average price of a used vehicle from the 2009 to 2013 model years fell 1.2 percent in May with several truck and van segments registering positive gains from April, according to Black Book.
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More signs are on the horizon that the summer slowdown is taking shape. All car segments saw a decreasing change in values this past week, and comments straight from the lanes showed dealer inventories are at levels that make for a more discriminating buyer at auction.
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Black Book has launched Black Book Digital en Espanol, one of the industry’s first mobile applications for Spanish-speaking dealers, remarketers, and other automotive professionals.
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An increasing number of car segments are displaying greater week-over-week depreciation, while trucks continue to show solid strength in the market, with seven truck segments either unchanged or positive change on the week.
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Increased buying opportunities and a favorable economic climate are limiting price growth, and the supply of quality used trucks is expected to increase.
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Compact SUVs held the strongest retention value in April, increasing 2.8 percent in a month that saw overall depreciation largely unchanged from March levels, according to Black Book.
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Signs of a tiring spring tax season are occurring and this past week witnessed the largest drop-off for this spring for car and truck segments.
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Overall, the volume-weighted car values were flat from last week, according to Black Book. The volume-weighted truck values increased by +0.31 percent from the past week.
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Teague is responsible for overseeing strategic operations to help Black Book’s automotive lender clients leverage vehicle data and collateral analytics for profitable portfolio management and expansion.
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