Demand for Used Vehicles Continues
GAINSVILLE, GA - The state of the wholesale market is "almost unreal," according to Ricky Beggs, Black Book's vice president and managing editor, in his latest "Beggs on the Market" analysis.
"Due to the lack of new-car inventory and the continued fact that used cars are smart retail purchases, the demand for nice, late-model used inventory continues," Beggs reported.
Though quantity of daily vehicle adjustments was not great this past week, averaging a solid 332 changes, the direction of these changes tended toward the positive side.
"Overall, the clean condition adjustments showed 72 percent of the adjustments increasing at an average amount of just over $193. Those that were adjusted downward dropped $182. But due to the volumes, the overall average came in at a very positive plus $88," Beggs said.
Within the truck segment, Beggs observed "more stable" market changes within five of the 14 segments Black Book analyzes. Three of these segments declined, including luxury SUVs, compact crossovers, and full-size crossovers, while the total truck segment average remained about flat at a stable $3 increase from the prior week.