VP of Automotive Valuation and Analytics
Cars and trucks had a stable period last week, through there were signs of buyer resistance increasing; more no-sales are being reported across the country. Car segments were relatively unchanged from the previous week and trucks saw slightly better results, up at +0.31% over the previous week. Strong car segments were Compact Cars (+0.17%), Full-Size Cars (+0.14%), Entry Mid-Size Cars (+0.12%). Two Truck segments did especially well: Compact SUVs (+1.17%) and Mid-Size SUVs (+0.65%).
Small Cars Appear to Be Selling Better than in Past Weeks:
Good supply should help prices slowly decline through the rest of the year.
SUV and Pickup Segments Had Broad Strength in the Truck Market:
Fuel price decline expected to continue, which could help truck price strength.
Dealers Say they Have Enough Inventory and Are Looking for Bargains Now:
Several buyers cautious about how much they’re willing to pay for inventory replacement.