In this week’s report, the Black Book editorial team reports on data trends straight from the auction lanes that may be showing signs of a tired tax season.
Comments from the lanes and data show that used vehicle inventories have been replenished, and remarketers are seeing signs of a buyer slowdown across many car segments in particular.
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• Overall, the volume-weighted car values were flat from last week.
• Overall, the volume-weighted truck values increased by +0.31% from last week.
• Small cars seem to be selling better than in past weeks. With a good supply in such segments, prices are likely to slowly decline through the rest of the year.
• Trucks showed broad strength across the SUV and Pickup segments.
• In our discussions with dealers, we gained insights that they have “enough inventory” and were mainly looking for “bargains” now.
• Several buyers were quoted saying that they feel the market will start dropping soon and they are being cautious as to what they are willing to pay for inventory replacement.
