Ricky Beggs, managing editor and analyst at Black Book, had a great time attending the North American International Auto Show – lots of new products and makeovers to check out. For Beggs and the Black Book team, it left a few questions about what all of it means for used car markets. Here are a few findings:
• Pickup trucks are expected to grow in used market price strength through 2012 due to a growing economy and interest in the segment. The show highlighted a few of the stars – the Chevy Silverado launch, the Ford Atlas concept, and the Dodge Ram 1500 taking Truck of the Year.
• Younger buyers are being sought out by the luxury carmakers, with entry-level luxury models from European and Asian carmakers seeing price reductions. What will this mean for CPO prices and luxury models on used car lots?
• Fuel-efficient vehicles could be thrown for a loop – they’re popular, but there are so many models on the market, value retention forecasts will need a new look.