Overall Market Growth Slows

By Staff Writer April 17, 2024 948

The overall market is still experiencing growth, yet there is a noticeable deceleration in the pace of these gains, and a growing number of segments are beginning to see a reversal into negative trends, according to Black Book’s Weekly Market Insights. Notably, the luxury segments have exhibited a widespread downturn across all categories last week, with the Sub-Compact Luxury Crossover segment standing out as the sole exception to this declining trend.

 Car Segments:

  • On a volume-weighted basis, the overall Car segment increased +0.27%. For reference, in the previous week, cars increased +0.26%.
  • The 0-to-2-year-old Car segments were up +0.25% and 8-to-16-year-old Cars increased +0.18%. Four of the nine Car segments increased last week.
  • Although the growth rate has decelerated in many segments, both Compact and Mid-Size Cars bucked the trend, accelerating their gains last week with an increase of +0.51% and +0.55%, respectively.
  • For three consecutive weeks, the Sporty Car category has experienced growth, with the latest week seeing a +0.48% rise. Over this trio of weeks, it has maintained an average weekly growth rate of +0.44%.
  • While recent-model Luxury segments observed declines last week, save for the Prestige Luxury Car segment, the older luxury car categories, specifically those within the 8-to-16-year age range, sustained their upward momentum with continued gains.

 Truck / SUV Segments:

  • The volume-weighted, overall Truck segment increased +0.09% compared to the appreciation seen the prior week of +0.23%.
  • The 0-to-2-year-old models gained +0.06% on average and the 8-to-16-year-olds decreased by -0.03% on average. This was the first time in five weeks the 8-to-16-year-old Trucks reported a decline in values.
  • Eight of the thirteen Truck segments increased last week.
  • Full-Size Vans have persisted in showing significant decreases, with the latest figures revealing a drop of -1.47%, following a substantial decline of -1.07% the previous week. This results in an average decrease of -1.10% for the segment over the course of the last three weeks.
  • Contrasting starkly with the Full-Size Van segment, the Full-Size Crossover/SUV category outperformed other Truck segments with the most substantial gain, rising by +0.65%. Over a span of six weeks, this segment has seen a consistent upward trend, averaging a weekly increase of +0.47%.
Rate this item
(0 votes)
Last modified on Wednesday, 24 April 2024 11:28