With some interesting anecdotes about how dealers are handling hurricane fallout, Black Book also highlighted how one specific segment impacted the entire truck segment.
This week’s Black Book Market Insights report mentioned compact SUVs increasing their value noticeably, giving the truck segment an overall boost in retention value.
Editors noticed the car segment depreciated by a standard amount with only one vehicle category — midsize cars — increasing in value by 0.13 percent.
“Active buying continued last week as Texas dealers replenished their inventory. Compact SUVs and midsize cars did well,” said Anil Goyal, Black Book’s senior vice president of automotive valuation and analytics, who is among the wide array of experts coming to , which begins on Nov. 13 in Palm Springs, Calif.
Volume-weighted, Black Book reported that overall car segment values decreased by 0.48 percent last week, similar to the average weekly decrease of 0.41 percent in values over the previous four weeks.
Editors noticed luxury and sporty vehicles in car segments declined the most at 0.87 percent each.
Again volume-weighted, Black Book pointed out that overall truck segment values (including pickups, SUVs and vans) were nearly flat compared to the average weekly decrease of 0.27 percent in values spotted during the previous four weeks.
Editors reported the compact crossover/SUV and compact van segments increased the most among truck segments by 0.37 percent and 0.51 percent, respectively.
As Goyal referenced, Lone Star State dealers are heading to the lanes to find vehicles as consumers impacted by Hurricane Harvey are looking for replacement vehicles. In fact, one of Black Book’s observers at a Georgia auction watched the action happen.
“A dealer from San Antonio bought a lot of vehicles for strong money. He stated that he usually buys 15 units a week but bought 41 at this auction alone today to meet the demand back home,” Black Book’s representative said.
Within the state of Texas, the activity was even more intense.
“Sold almost everything today, and the buyers that usually don’t buy high mileage units were not discriminating today,” Black Book’s lane watcher in Texas reported.
Another report from Texas added, “Hundreds of flooded new vehicles at the auction where they were marshalling them before they were to be crushed.”
Black Book’s other two reports from the lanes mentioned much less active scenes.
From Tennessee: “Lots of no-sales as dealers and commercial accounts are holding their floor prices in advance of the anticipated high demand caused by the recent storms.”
From Colorado: “Low attendance and low vehicle volume but the vehicles that were here sold well.”