Black Book Reports Spring Market Slowdown

By Staff Writer April 24, 2024 786

Signs of a spring market slowdown are emerging, as the overall market appreciated barely +0.05% last week, and the Trucks & SUVs category saw a slight -0.02% dip, according to Black Book’s Weekly Market Update. Additionally, the average auction conversion rate nationwide experienced a minor decrease, indicating that buyers are starting to proceed with more caution.

Car Segments:

  • On a volume-weighted basis, the overall Car segment increased +0.21%. For reference, in the previous week, cars increased +0.27%.
  • The 0-to-2-year-old Car segments were up +0.06% and 8-to-16-year-old Cars increased +0.21%.
  • Five of the nine Car segments increased last week.
  • The Sporty Car segment experienced the most significant growth last week with a rise of +0.43%. On average, over the past four weeks, it has maintained a weekly increase of +0.44%.
  • While the growth rate is beginning to decelerate for the overall market, the Compact Car segment is still on an upward trajectory, marking gains for the 15th straight week. It saw an increase of +0.32% last week.

Truck/UV Segments:

  • The volume-weighted, overall Truck segment decreased -0.02% compared to the appreciation seen the prior week of +0.09%.
  • The 0-to-2-year-old models gained +0.03% on average and the 8-to-16-year-olds decreased by -0.09% on average.
  • Six of the thirteen Truck segments increased last week.
  • Full-Size Vans are experiencing an accelerated pace in depreciation, with a decline of -1.67% last week. This uptick in supply, propelled by a rise in fleet remarketing, is driving the depreciation.
  • The Small Pickup segment maintains its strong performance, recording a +0.42% gain last week. This marks the ninth consecutive week of upward movement, with a weekly average increase sitting at +0.32%.
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Last modified on Wednesday, 01 May 2024 10:08