GAINESVILLE, Ga. -

Although it remained positive this past week, the wholesale market was “just not as aggressive” as it had been in recent weeks, according to Black Book managing editor Ricky Beggs.

Of all the wholesale value adjustments the company made in the past week, less than 53 percent were upward. The proportion of positive adjustments has not been that low in nine weeks, Beggs pointed out.

The proportional decrease in positive adjustments maintains what has been a modest slowdown, he noted. 

“Overall, the dealer and the Black Book survey personnel comments indicate a continued positive market but one that is just not as aggressive as we have been seeing,” Beggs shared during the latest "Beggs on the Used Car Market" video report.

Breaking the data down by segment, eight of the 10 car segments Black Book tracks showed price gains. Overall, they climbed $27, which notched the ninth straight week of improvement.

In this nine-week period, values have climbed $43 each week, on average, Beggs said.

Entry-level cars were up $68 and topped the list. Premium sporty cars (down $13) and prestige luxury cars (down $4) were the only car segments to slide.

Moving over to trucks, these segments jumped $7, which may come as a bit of a surprise given popular notions.

“Even though there continues to be comments as to the expected softness in the truck segments, the overall change in trucks came in at a positive $7 change for the second consecutive week,” Beggs shared.

“This is also the seventh consecutive week with overall strength in these segments. The truck market continues to defy the perception that there is little or no interest and demand for trucks, vans and utility vehicles, with 10 of the 14 segments increasing in value,” he added.

Luxury SUVs topped the list (up $68) with compact pickup trucks next in line (up $60). Conversely, full-size SUVs softened $126. They are the only truck segment whose values been dropping for 12 straight weeks.

Beggs Meets with OEM, Captives

In another part of his analysis, Beggs shares some insight he gathered from meetings with automakers and captive finance companies last week. He found that they seem to have a cautiously optimistic outlook on the used market.

“They are very upbeat about the current state of the used-car market, but on more than one occasion, expressed their thoughts as to how long the market will stay this good,” he noted.

“Barring any unforeseen U.S. or world issues, the shift in used-vehicle value retention won’t reach the used market until annual new car sales volumes climb to the 15.2 to 15.5 million mark,” Beggs continued.

He added: “For most of us, we are focused more on the current market and getting the best return possible this week. Setting the right floors for both online offerings and live traditional auctions is keys to getting cars sold. So what happened this past week to help you set the right floor or to help decide what to offer and pay for the next new piece of inventory?”

Specialty Markets

In a separate video report titled “Beggs on the Specialty Markets," he touched on a variety of segments outside of the mainstream auto market. One of these was the collector market, which Beggs indicated has seen consistent gains in interest.

“As the weather continues to improve, the amount of interest in collectible cars continues to increase. Although prices are not skyrocketing out of control in any segments, there is strong activity in several,” he noted.

Beggs pointed out that the mid-1950s through mid-1970s convertibles have been rather strong, as typical for spring.

He added that: “British sports cars, although always popular, also seem to do better in the spring and summer. Not to stereotype, but most British imports are not at their best in the cold weather months.”

He pointed out that there have been modest gains for muscle cars, “and I’m sure this is a result of people beginning to get them out of their garages and onto the road. With a muscle car, the more outrageous the paint color, the better!”

Beggs went on to add: “It is definitely the local car show and cruise in season where some of these beauties come rolling out of the garages. Hosting one of these events at your dealership is a great way to garner attention, while also supporting the events or needs from your community."