The U.S. used vehicle market is beginning to lose some of its momentum, according to data from Black Book.
“Spring market strength is starting to fade as positive adjustments to values slowed down last week. We are seeing more no-sales in auto auctions than in recent weeks,” said Anil Goyal, Executive Vice President, Operations for Black Book.
Volume-weighted, overall car segment values jumped 0.12 per cent ($13) from April 19-26, where values increased 0.24 per cent on average during the prior four-week period.
The sports car segment experienced the greatest lift in values with 0.37 per cent ($58), compared to the luxury car category, which managed the steepest decline of all the segments with a decrease of 0.51 per cent ($99).
As for the volume-weighted, overall truck segment, which also includes pickups, SUVs, and vans, values increased by 0.06 per cent. Market values during the previous four-week period were up an average of 0.07 per cent.
Sub-compact luxury crossovers experienced the most significant decrease of 0.59 per cent ($98), while luxury crossovers/SUVs (-0.26 per cent or -$51) and pickups (-0.15 per cent or -$24) showed a less significant drop in values.
Compact crossover/SUV segment values rose 0.23 per cent ($29).
The company’s recent report also reveals how affordability concerns remain an issue and are putting pressure on the mid-size luxury crossover/SUV segment’s retention rates.
