Resale Values Experience a Drop, <i>Black Book</i> Reports
GAINESVILLE, GA - For the first time since the week ending May 15, total truck segments were down, according to Ricky Beggs, Black Book vice president and managing editor.
Six of the 14 truck segments Black Book tracks were negatively adjusted last week, Beggs reported in his weekly market video update.
"What a roll the truck segments have been on since last fall. This week the trend may pick up again or may continue as last week," he said.
Meanwhile, the 10 car segments Black Book examines remained relatively steady. Only one segment - premium sports cars - was downwardly adjusted this past week.
Beggs also touched base this week with manufacturers, remarketers, independent and franchise dealers, and rental companies, to get their take on the condition of the used-vehicle market.
Among the feedback received, several commercial remarketers showed concern "due to their sales conversion rates not being what they have been accustomed to during the unprecedented strong run from spring, summer and into the early fall," Beggs said.
With others responding that wholesale values are "'getting softer...going through an adjustment...settling out... buyers being more selective,' all indicate the market is just not as aggressive," Beggs reported.