Pace of Car Price Declines Picking Up, Black Book Says
Black Book reported that resale value declines in the car segment have become increasingly large since April, though the truck segment, on the other hand, has seen price drops slow (video below).
In September, used-car prices dropped –2.0% compared to April, when prices fell -0.2%. Truck price declines have eased from –1.8% in July to –1.1% in September, though.
The following table shows the monthly price changes between used cars and trucks since April:
|Month||Cars Price % Change||Trucks Price % Change|
Black Book's Senior Analyst Ricky Beggs also reported that the different categories in the truck segment have been fairly stable during this past week, with mid-size pickups, full-size pickups and compact crossovers all showing price increases.
"Our outlook for the next couple of weeks is an active market with a similar number of changes compared to this past week," said Ricky Beggs, senior analyst at Black Book. "The trending should again see larger declines with the more luxury-oriented models. We are also watching the late-model vehicles as the lack of interest in wholesale for these could represent some relatively large negative pricing adjustments."
Earlier this year, Black Book detailed the segments that have seen the largest drops.