Car-price strength reflects spring-market activity acceleration

LAWRENCEVILLE, Ga. - 

In some places nationwide, grass is becoming greener and buds are forming on trees and other plants.

And the spring market is blooming, too, according to the latest Black Book Market Insights.

The latest report released on Tuesday indicated momentum is picking up steam in the early weeks of the spring selling season with prices rising on sub-compact cars, compact cars and prices unchanged on mid-size cars.

“Spring market demand is in full swing with lower value vehicles selling the best last week,” said Anil Goyal, executive vice president of operations at Black Book, in the analysis. 

Volume-weighted, editors noted that overall car segment values decreased by 0.18 percent last week, much better than the average weekly decrease of 0.34 percent in values spotted during the previous four weeks.

Turns out, the subcompact car segment performed the best among all car segments with values going up by 0.31 percent last week.

Moving over to volume-weighted truck trends, Black Book found that overall truck segment values — including pickups, SUVs and vans — decreased by 0.21 percent last week, an improvement compared to the average weekly decrease of 0.44 percent in values recorded during the previous four weeks.

Editors pointed out that small pickup and full-size pickup segments performed the best among all the truck segments.

The four recaps from Black Book’s lane observers also illustrated how the spring market is taking off. Here is the latest nationwide rundown:

— From Missouri: “There was a mix of frontline-ready units and some poorer condition trade-in vehicles which provided potential inventory for everybody. The edgy older vehicles with lower condition ratings sold well but the newer units were hit or miss.”

— From Florida: “Clean older cars are in demand but are becoming harder and harder to source.”

— From California: “Attendance was good and most of the vehicles received bids at some level. With the active bidding the prices seemed to be fairly strong.”

— From Nevada: “Retail is obviously improving as franchise dealers are more prevalent and are making their presence known with auction purchases.”



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