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Car values continued to weaken and truck values strengthened last week, as the summer months approach.
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Overall truck segments are declining but some truckmakers saw increases of up to 5% due to new 1/2-ton pickups.
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In the month preceding the start of the Spring season, trucks continued to show the resilience they've shown in past months. A few key segments showed particular strength and luxury vehicles continued to struggle.
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Black Book's ValuEngine batch processing tool now offers Enhanced Vehicle Matching, a more precise VIN-level valuation tool powered by machine learning and natural language processing.
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A steady supply, thriving shipping market, and increased demand helped stabilize wholesale values going into 2019.
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Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.42% last week. In comparison, the market values decreased by 0.58% on average during the prior four-week period.
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Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
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Wholesale values declined 0.3% for model years 2016-2017 and 0.2% for model years 2008-2015 in December.
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The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
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