Black Book announced that Ricky Beggs, previously senior vice president, was honored as the newest member of the Ring of Honor for the National Independent Automobile Dealers Association (NIADA).
Smaller, more fuel-efficient models are getting some attention again after resale prices softened for just over a month once the tax season expired.
With all of the changes and the number up and down the overall dollar change week over week is a decline of -$103. But, even with the level of changes today, there is still a pretty solid and active market within the wholesale channels.
With an overall average segment depreciation of -1.7 percent during November, the market appeared to be better than the October average segment change of -2.3 percent
From last week’s largest declines in the previous five weeks on the cars and for eight weeks on the trucks, the level of adjustment moved to a smaller decline in the most recent week-over-week comparison for both the cars and trucks.
Gasoline prices continue to drop, but fuel-efficient car segments start to see bigger price declines after several strong weeks.
When looking at the car segment changes the highest percentage changes come from the opposite extremes of fuel-economy levels. The trucks average segment change decline has increased for the third consecutive week but not at the same level as the cars.
Last week, the market results struggled and after seeing the results of the most recent week of auction activity, we know it was the temporary end-of-the-month market.
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.
Five used-car segments have resumed price declines after a strong Spring buying season, which is typically strong when shoppers purchase used vehicles with tax rebate money.
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