Beggs: Declines Seen in 23 of 24 Wholesale Segments
Considering the same relative softness on the retail side of the market, the current movement in the wholesale arena doesn’t come as a “major surprise” to Black Book’s Ricky Beggs, who spotted overall price declines on both the car and truck sides of the market for the third straight week.
He said in the latest “Beggs on the Used Car Market” video report that the overall change in the wholesale market was a downward movement of $66, which is quite similar to the $68 decline spotted three weeks ago.
Only one of the 24 segments that Black Book tracks showed a week-over-week value increase.
“The adjustments this week reflected a trend similar to the past three weeks,” said Beggs, who is Black Book’s managing editor.
“As the recent few weeks of the market have been making some softening adjustments the overall percent of adjustments being increased was the smallest number since back in the winter and the week ending February 18, 2011,” he added. “With quite a few dealers telling us retail has recently been a little slower, thus the direction of the market is not a major surprise.”
Breaking it down by segment, the week-over-week drop-off in the truck segments slowed to $30, the lowest it has been in the last three weeks, according to Beggs.
The only one of the 14 truck classes to see an increase — and the sole upward mover of the 24 car and truck segments — was the compact pickup truck segment, which was up $5. Luxury SUVs had the largest decline (down $83) followed by the full-size crossover (down $65) and the midsize SUV (down $54).
Interestingly enough, though its value fell $10, the full-size pickup class had its strongest week-over-week value retention in nine weeks.
Beggs questioned whether this dip has something to do with the gas-price alleviation that has occurred in recent weeks.
“Is this trending a reaction to the declining gas prices at the pump? If you think so, then why didn’t the luxury SUVs do any better than the previous 12 weeks?” he said.
black book wholesale - News
Considering the same relative softness on the retail side of the market, the current movement in the wholesale arena doesn't come as a “major surprise” to Black Book's Ricky Beggs, who spotted overall price declines on both
Meanwhile, Black Book spotted declines in 12 of the 14 truck segments for the second week in a row. Overall, truck values dipped $34. “The market this past week showed similar trends of the previous two weeks,” Beggs said in the latest Beggs on the
Last week, something was spotted in the wholesale market that hasn't been seen in four months, according to Black Book. Managing editor Ricky Beggs said that there was an overall drop-off in the car segments' values,
The wholesale market hit a five-week high for daily value adjustments last week and experienced the greatest overall decline in more than a month, according to Black Book managing editor Ricky Beggs.
Book 'em: While the Kelley Blue Book may be a good starting point for determining the private-sale value of your used car, many dealers are now using the Black Book. This provides wholesale values at a used car auction. It lists the amounts you can
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Auto Remarketing | Black Book: Wholesale Market Looks Stronger
GAINESVILLE, Ga. — In what Black Book's Ricky Beggs called a "very active week" for the company's editors, the frequency of wholesale value adjustments ...