Track Monitoring: 3 Vehicle Segments Keep Value Dropping More Than 3% in One Week | Automatic remarketing Automatic remarketing

Track Monitoring: 3 Vehicle Segments Keep Value Dropping More Than 3% in One Week |  Automatic remarketing Automatic remarketing

Black Book watched three vehicle sectors decline in value last week perhaps more than the appeal of cranberry sauce or canned potatoes still sitting on the grocery store shelf two days after Thanksgiving.

Three sectors fell in value more than 3% a week ago, including work trucks, full-size luxury SUVs and compact cars, Black Book reported.

With many auctions shutting down for two days last week to enjoy the holiday, Black Book also mentioned in its latest edition of Market insights That estimated average weekly sales rate dropped to 53%.

So, does this mean that deals should be made more heavily by dealers shopping for inventory than by grandparents searching for toys? Or are senders wondering if the Grinch took away their strong values ​​with the last can of Hoo Hash?

“Despite it being a holiday week, the market continued to experience significant declines last week. Auction attendance and sales rates also declined,” Blackbook said. In her report This highlighted the decline in overall wholesale prices by another 1.49%.

The analysts continued: “From what we were able to observe, the wholesale market continued to decline as we reached the last five weeks of the year.” “It will be interesting to see what happens in the coming weeks. More declines or will it stabilize?

At least among cars, depreciations are increasing. On a volume-weighted basis, Black Book pegged the overall decline in the auto sector at 1.82% last week. A week ago, car prices fell by 1.35%.

All nine auto sectors fell last week, with six of those sectors reporting declines of more than 1%, according to Black Book tracking.

Analysts added that the prices of cars aged 0 to 2 years decreased by 1.52%, while the values ​​of models aged 8 to 16 years decreased by 2.10%.

The value of those previously mentioned compact cars declined by a record 3.84%.

Other fuel-efficient units — small cars — saw prices drop significantly for the third week in a row, according to Black Book, which said those vehicles fell 1.80%.

“The luxury car segments were the only ones to see a decline closer to typical seasonal trends,” the analysts added.

Among trucks, value declines slowed slightly overall, with volume-weighted Black Book data showing overall truck prices fell 1.35% last week. This is not as much as the decline recorded a week ago when it was 1.53%.

Analysts noted that prices for all 13 truck segments fell last week, with nine of them falling by more than 1%.

Black Book said vans and full-size trucks had shown “incredible strength through most of the pandemic but are now in a correction mode”. Analysts saw prices for small trucks decline by 4.25% and values ​​for full-size trucks decrease by 3.19%.

Analysts added that pickup trucks have now seen an average weekly price decline of 3.49% over the past four weeks.

The Black Book also noted that full-size crossovers saw significant drops in value last week, with the mainstream segment down 1.75% and luxury variants down 3.20%.

It’s also worth noting that compact crossover prices fell another 1.40%, marking the fifth straight week of more than 1% declines in Black Book tracking.

With Thanksgiving now in the books and more holidays to come, Black Book concluded by saying, “As always, our team of analysts is focused on keeping their eyes on the market, monitoring evolving trends and gathering insights.”

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