Post Hurricane Sandy, the used-car market is about to see changes that will slow down vehicle resale value depreciation and possibly even push up prices in some categories, according to Black Book’s Senior Analyst Ricky Beggs.
Black Book reported that resale values declines in the car segment have become increasingly large since April, though the truck segment, on the other hand, has seen price drops slow.
Last month Beggs reported a pattern of decreasing wholesale prices for medium-duty trucks, and this month brings more of the same, especially with late-model medium- and heavy-duty vehicles.
Activity in pricing adjustments was ‘pretty substantial,’ reports Ricky Beggs, managing editor of Black Book, adding that with more than 2,300 vehicles adjusted each day throughout the week, the trend is very similar to the previous two weeks.
Resale values have been high for the past two years-plus in the wake of the automotive industry’s 2009 downturn, but recent values haven’t been quite as strong in a number of vehicle categories. As for fleet vehicle segments that are retaining value, core 'fleet' sedans, have resale values that are staying strong.
Black Book’s Ricky Beggs reports that average values for both cars and trucks increased for the first time this year.
Ricky Beggs, managing editor of Black Book, presents the Oct. 31 edition of "Beggs on the Used Car Market." In his weekly video, he discusses the performance of the various car and truck market segments, and the possible role of changing fuel prices.
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