Dealers in upbeat moods thanks to more showroom activity translated into actions in the lanes being more robust last week, according to the latest Black Book Market Insights report.
Those behaviors resulted in analysts noticing wholesale values staying stronger than they had during the previous four weeks.
“Strong valuation trends were seen across the majority of vehicle segments last week. Good bidding combined with reduced inventory in the auctions resulted in strong sales percentages,” Black Book executive vice president of operations Anil Goyal said in the latest report.
Volume-weighted, Black Book reported that overall car segment values decreased by 0.16% last week. In comparison, car values declined by 0.45% on average during the prior 4-week period.
Among cars, analysts mentioned values of sub-compact cars decreased the most, sliding by 0.51% or $31.
Again according to volume-weighted information, Black Book determined overall truck segment values (including pickups, SUVs, and vans) edged just 0.06% lower last week. The previous four-week average decline in the truck space was 0.20%.
One of other truck note, analysts pointed out values of sub-compact luxury crossover/SUVs softened the most, dropping by 0.66% or $107.
As noted, dealers who went to a physical sale or participated online displayed a positive outlook, based on the reports from Black Book representatives who mingled in the lanes. Here is the rundown:
— From Massachusetts: “Retail has picked up here and that includes both new and used. Every seller at the auction today was pleased with the money received for their vehicles.”
— From Georgia: “Volume was down but a really strong sales percentage more than made up for the reduced inventory. It had the feel of a spring-like sale.”
— From Michigan: “Bidding was good today as retail activity remains fairly good in our market. One very positive sign is that dealers are no longer talking about credit availability as an issue.”
— From Florida: “The dealers were more positive and reported that the dealership phones are ringing.”