Recent data from Black Book in the U.S. reveals used vehicles such as mid-size sedans and vans are showing a lift in values.
The volume-weighted overall car segment values experienced a 0.12 per cent increase ($12) from the previous week. In comparison, the market values dropped 0.38 per cent on average during the previous four-week period.
“The spring market is here. Led by mid-size cars and minivans, the used vehicle market showed a seasonal lift last week,” said Anil Goyal, Executive Vice President, Operations for Black Book.
In the car segment, the values of Mid-Size Cars jumped 0.52 per cent ($41) — representing the greatest increase.
The values for the volume-weighted overall truck segment, which includes pickups, SUVs, and vans, decreased by only 0.19 per cent ($28) during the same period. To compare, the market values for the previous four-week period decreased by 0.41 per cent on average.
In the truck department, minivans experienced the most significant boost in values with a 0.43 per cent ($46) increase.
In terms of wholesale values over a three-year period, the values of used luxury cars have declined consistently while the values of pickup trucks have increased over the same time frame.
“Interestingly, the average three-year old full-size pickup is now as expensive as a three-year old luxury car,” said Black Book.
