by Jon LeSage, editor, Used Car Market Reports
Here are a used car market trends covered in this week’s …..
For the editorial team at Black Book, and for remarketing professionals they’re talking to, the level of declining activity at auctions kind of caught people off guard. It looks like there will be an adjustment in the floors to get things moving a little faster.
They noticed a slow rental market conversion, and cars are seeing more downward adjustments than trucks. Overall, cars saw their second largest declining amount since September 20 if this year.
Pickups are still doing better than the overall market – especially 4WD configurations. Change for all three pickup segments confirmed a better week over week trend.
NADA is focused on commercial and passenger vehicles in this week’s Used Car Market Reports – with Chris Visser and the NADA Commercial Vehicle Market Update and Jonathan Banks with a video recap of the latest NADA Used Car Guide.
Retail sleeper tractor pricing came back with a roar in August, the highest ever seen. August makes for the fifth month in 2013 to set a new record. Sleeper tractor-trailers saw an average price of $54,090 – beating June’s previous record by $1,266 (up 2.3%).
Wholesale sleeper pricing was also up, with the strongest result in eleven months.
The construction segment seems to be showing signs of recovery. The newest used trucks showing two months of upward movement and strong pricing.
On the used car side, while September’s drop was large compared to the previous 10 months, it was right in line with historical price movements. The close of Q3 stayed in line with NADA’s positive outlook for 2013.