Black Book Looks at February Trends and What’s Coming Next

Beggs_Ricky

Black Book’s man­ag­ing edi­tor Ricky Beg­gs has ana­lyzed used vehi­cle pric­ing data for Feb­ru­ary, along with pro­vid­ing an out­look on upcom­ing mar­ket trends…

Over­all, car and truck prices are down on an annu­al, quar­ter­ly, and month­ly basis, but cars had saw a wider decline. Cars are down 14.3% since a year ago, down 4.3% dur­ing the past three months, and 0.9% month-over-month. Trucks dropped 11.1% in price from the pre­vi­ous year, 2.2% on a quar­ter­ly basis, and 0.7% for the month.
One seg­ment of the mar­ket did pret­ty well – vehi­cles in the under-$10,000 range saw price increas­es dur­ing Feb­ru­ary. That was spurred par­tial­ly by sea­son­al buy­ing habits lever­ag­ing antic­i­pat­ed tax returns, and more so by pos­i­tive price adjust­ments in fuel-effi­cient and small crossover sege­ments.
Black Book expects that addi­tion­al growth in new-car sales from pent-up demand will bring in more trade-in vol­ume and con­tribute to con­tin­ued slow eas­ing of prices at the whole­sale lev­el.
Fuel-effi­cient seg­ments should gain from an increase in spring­time fuel prices, while pick­ups and small crossovers should also gain trac­tion as ser­vice sec­tors pur­chase more vehi­cles for con­tin­ued con­struc­tion activ­i­ty.

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