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 all segment changes last week, with a focus on the Black Book Index. The Index for November saw a 0.2% gain from the previous month, and the Index has now increased for each of the last seven months. The report also looks at the latest Specialty Market trends heading into December.
“Mainstream used sedan values declined the most last week since January of this year. After bucking the trend for most of the year, the depreciation rates are finally reverting to seasonal expectations,” said Anil Goyal, Executive Vice President, Operations, for Black Book.
Collectibles: As we enter the final month of 2018, it seems that all anybody can talk about are the upcoming auctions in Scottsdale in January. Silver kicks things off on the 10th, Barrett-Jackson gets things started in earnest on the 12th, and Worldwide, Bonhams, Gooding, Russo and Steele, and RM Sotheby’s begin their previews mid-week with their main events starting towards the end of the week and running through the weekend.
Recreational: The average selling price of motorized units at auction last month dropped roughly nine percent, which sounds significant, but if you exclude September’s unexpected price spike, the drop is really only about one and a half percent from two months ago, which would be expected going into colder weather.
Powersports: With the Holiday Season officially upon us, the Powersports market has entered its typical winter slowdown. The changes in value this month are fairly moderate considering the time of year, with most segments only down a percent or so.
Heavy-Duty: More used trucks are needed to satisfy the growing demand for both long haul and regional delivery needs. Franchised Dealers, Independent Dealers, and other Used Truck Sales Venues need to find more inventory to take care of their customer’s used truck needs.
Medium-Duty: Demand is consistently increasing for units in these segments as scarcity in used supply continues to be an issue for some segments.