Black Book Reports Strong 1st Quarter Market
– Used-vehicle values were strong across the U.S. during the first quarter of 2007, according to Black Book
. Of 75 different 2005-model-year vehicles surveyed, 19 models brought more money at auction today than in January 2007. Of the vehicles for which values have declined, a majority (58 percent) have depreciated less than $300 since January.
When viewing by vehicle category, nearly 40 percent (six of 16) of the categories increased in value during the first quarter and one category dropped by less than $100. Pickup truck and SUV performance has been strong as well. From April 2006 to April 2007, four of the six light-truck segments have depreciated less than 10 percent. These patterns reflect unusually weak values from last winter and equally strong values for the 1st quarter 2007 market, and the values do not appear to be affected by the recent spike in fuel prices.
Much of today’s strength can be attributed to the very limited supply of quality used vehicles available.