LAWRENCEVILLE, Ga. — High demand for pre-owned vehicles resulted in increased values, with 13 out of the 22 vehicle segments registering increases in average value, according to Black Book’s April 17 Market Insights report.
Volume weighted, overall car segment values were up 0.10% compared to the week prior. Values for the car segment increased 0.15% during the previous three weeks. Volume weighted, overall truck segment values were up 0.05% compared to the week before. In comparison, truck values depreciated by .06% in the previous three weeks.
“Sentiment was positive in the auction lanes, with most locations experiencing high sale percentages,” said Anil Goyal, senior vice president of automotive valuation and analytics. "This higher demand resulted in increased values in most segments last week."
The best performing vehicles in the car segment last week were sporty cars and subcompact cars, which registered value increases of 0.49% and 0.37%, respectively, compared to the prior week period. The only vehicles in the car segment to struggle during the same period were luxury cars, prestige luxury cars and premium sporty cars.
For the truck segment, minivans, small pickups, and compact vans led the way. Minivans, in particular, had the best performance among all vehicle segments, rising 0.84% in value compared to the week before. Similar to the car segment, the worst performing vehicles in the truck segment were luxury vehicles. Sub-compact luxury crossovers and compact luxury crossovers/SUVs dropped 0.50% and 0.33% in value, respectively.
Taking a look at the first four weeks of spring, overall vehicle values are stronger this year than the same time last year, according to Black Book data. Car values are up 0.55% through the first four weeks of spring this year compared to the same time last year, when car values were down 0.59%.
Similarly, truck values are down 0.14% during the first four weeks of spring this year, compared to being down 0.83% during the first four weeks of spring in 2016.