Resale Market Experiences Record Change, <i>Black Book</i> Reports
GAINESVILLE, GA – The number of used vehicles whose value changed June 8 was 10,036 — a single-day record, reported Black Book. Of that total, 9,476 increased in value, while only 560 declined. The average dollar increase was $253, and the average decrease was $102 — "far from being in a distressed used car market," said Ricky Beggs, Black Book vice president and managing editor.
"Though auction volumes continue to be much smaller than the auction operators would like, sales percentages are much greater than could be expected," said Beggs.
Beggs reported seven of the 10 car segments were up the past week, six up for the first time in at least the last six weeks.
For the truck segment, 11 of the 14 segments Black Book tracks were up this past week, with two of the three down "in the midst of a six-week slump, with full-size vans and full-size wagons being players in a more commercial-oriented markets," said Beggs. He attributed the trend to the tough economy's impact, especially on service and delivery businesses.
Cabover medium-duty trucks were the weakest segment in medium-/heavy-duty trucks, according to Beggs.