Black Book’s Ricky Beggs has been watching used car prices for cars and trucks slowly digress this year. September car prices have so far dropped 2%, compared to April when prices slid just 0.2%. Trucks have been going in the opposite direction since July. Price declines have eased from being down 1.8% in July to down just 1.1% in September.
Stability across truck segments continued recently with three segments increasing in price last week and another five segments depreciated by less than 0.2% or less. Mid-size pickups, full-size pickups, and compact crossovers all had price increases.
Black Book’s outlook for the next couple of weeks in an active market with a similar number of changes compared to this past week. Larger declines are expected to happened more with luxury-oriented models. Black Book is also tracking late-model vehicles. The lack of interest in wholesale for these vehicles could represent some relatively large negative pricing adjustments.