U.S. used car values increased between March 22-29, 2019, while pre-owned truck values took a slight dive, according to data from Black Book.
The volume-weighted overall car segment values were up 0.17 per cent (or $17), which is commendable when considering that market values decreased by an average 0.25 per cent during the prior four-week period.
“Auto auctions are seeing high sales conversion rates with active buyers. Spring market is in full swing, and affordable cars have the strongest demand,” said Anil Goyal, Executive Vice President, Operations for Black Book. “Sub-compact Cars led the market last week with the highest lift in valuation,” said Anil Goyal, Executive Vice President, Operations for Black Book.
Mainstream cars and sporty cars experienced a significant lift in values. For example, sub-compact cars managed a 0.57 per cent increase ($30), while sporty cars saw a 0.47 per cent increase equivalent to $63.
The volume-weighted overall truck segment (including pickups, SUVs, and vans) did not experience a similar lift in values. Instead, values declined slightly — a mere 0.07 per cent. In comparison, the market values decreased by an average 0.36 per cent during the prior four-week period.
The minivan segment managed to achieve the greatest increase in values at 0.55 per cent ($60), while luxury SUVs showed the most declines: the compact luxury crossover/SUV category dipped 0.25 per cent ($44); the mid-size luxury crossover/SUV segment fell 0.52 per cent ($97); and full-size luxury crossover/SUVs decreased by 0.57 per cent ($165).
“The report also shows how the spring market is late this year, as values continued to decline in January and February,” said Black Book. “It is, however, attempting to make a strong comeback from Week 11 this year.”
