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 Black Book Market Insights report takes a look at the retention of two-year old vehicles, with particular emphasis on Full-Size and Mid-Size Luxury SUV/Crossovers, which are both seeing diminishing residuals over the last few years. Both saw some of the highest depreciation this past week.
“The used-car market has remained relatively stable overall, however, recognizing consistent weekly trends may keep you ahead of the game… keep an eye on Luxury segments,” said Anil Goyal, Executive Vice President, Operations.
Collectibles: To paraphrase Mark Twain, the reports of the demise of the classic American muscle car have been greatly exaggerated. Although muscle cars’ values declined for about a year or so beginning in the summer of 2016, they have since rebounded and are on a yearlong winning streak.
Recreational Vehicles: The average selling price of motorized units at auction last month jumped by nearly ten percent, which equates to roughly $4,000.
Powersports: The Powersports market has reached its traditional high point for wholesale values this month, and prices reflect that for most segments.
Heavy Duty: During June, Heavy Duty Auction activity surged with more buyers and trucks, while the mileage on the trucks continues to increase and the wholesale values continue to decline.
Medium-Duty: In June, Older Units (2007-2014) dropped an overall weighted average of $70 (0.4%), which is $47 less than the adjustment we saw in May. We did not see too much movement in the Older Units at auction from Class 3 through Class 6 in June.