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.