Black Book Describes ‘Stable, Flat’ Market

By Staff Writer May 16, 2024 287

The current market is being described as stable, flat, and unchanging, as we observe a slow and consistent dip after what looks to be the end of the spring market period, according to Black Book.

The market segment for 2-to-8-year-old cars remained unchanged, whereas both the newer used vehicles and the oldest model years saw slight increases, rising by +0.03% and +0.10%, respectively. Conversely, the truck market, across all age categories, experienced slow declines.

Car Segments:

  • On a volume-weighted basis, the overall Car segment decreased -0.01%. For reference, in the previous week, cars decreased -0.06%.
  • The 0-to-2-year-old Car segments were up +0.03% and 8-to-16-year-old Cars increased +0.10%.
  • Three of the nine Car segments increased last week.
  • Last week, the Sub-Compact Car segment experienced the most significant decrease among car segments, with a -0.49% drop. This decline, however, was less severe than the previous week’s decrease of -0.58%.
  • Last week saw another rise in the Sporty Car segment, going up by +0.15%. This upward trend has been uninterrupted for seven weeks, with an average weekly growth of +0.33%. 

Truck / SUV Segments:

  • The volume-weighted, overall Truck segment decreased -0.14% compared to the decline seen the prior week of -0.10%.
  • The 0-to-2-year-old models declined -0.06% on average and the 8-to-16-year-olds decreased by -0.23% on average.
  • Five of the thirteen Truck segments increased last week.
  • Full-Size Vans maintained their downward trajectory, although the pace of decline moderated last week to -0.63%, compared to -0.90% the week before. On average, the last seven weeks have seen a weekly decline of 1%.
  • The rate of depreciation for Minivans has accelerated, with the segment experiencing a -0.43% drop last week, marking its steepest weekly decline since the final week of January.
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Last modified on Thursday, 23 May 2024 11:22