Welcome to this week's edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full report.
This week’s Market Insights Report looks at how depreciation trends may be showing early signs of spring, with two truck segments actually showing no depreciation last week. The report also highlights all the specialty vehicle trends, as well as a look at residual value forecasts, which remain strong on pickup trucks while luxury cars and sub-compact cars show relative weakness.
“We are starting to see a normalization in depreciation after higher drops at the start of the year. Both car and light truck segments are showing stability in values,” said Anil Goyal, Executive Vice President, Operations, for Black Book.
Collectibles: The final sales numbers from the collectible car auctions held in Arizona are in, and they’re impressive…the total for roughly ten days of sales was just over a quarter of a billion dollars.
Recreational Vehicles: We are solidly into winter now, and brutally cold weather has gripped large parts of the country. Although the volume of vehicles offered at auction has dropped, as we’d expect for this time of year, the values of those that were sold actually increased a little bit for both towables and motorized units.
Powersports: Powersports values are still frozen in negative territory this month. The changes in value we see for February are very similar to the changes from January.
Heavy Duty: Used trucks of all ages dropped more across all segments than last month but are still doing very well.
Medium Duty: Increased demand has helped offset price depreciation as a steady supply of used inventory continues through January.