Black Book Takes Deeper Dive on Compact Crossovers
Only four of the 14 used truck segments that Black Book tracks saw their prices go up last week, and one of those categories was the compact crossover.
The firm shared some interesting data points Tuesday morning to better illustrate just what has happened in this class, including why it has been so hot on the retail side.
The used prices of compact crossovers have fallen only 2 percent so far this year, according to Black Book; comparatively, full-size crossover prices have dropped 4.5 percent.
In the latest Beggs on the Used Car Market video report with managing editor Ricky Beggs, Black Book showed that compact crossovers were fairly stable this past week, as they climbed 0.02 percent (or $2).
As far as consumers’ appetites, Black Book noted these vehicles “have gained a lot of momentum recently.”
The firm added in its analysis: “Popular models such as the Toyota RAV4 and Honda CRV have grown in size and gained better fuel economy, two main drivers of why consumers have soaked up models in the segment.”
Black Book also touched on a couple key trends among individual vehicles, starting with Jeep. With a revamped Cherokee model for 2014 that will replace the Patriot and Liberty, Black Book suggests this “means Jeep is looking to shake things up and be more competitive in the segment.”
Elsewhere, the firm pointed out: “Other changes have taken place within the segment, as Mazda discontinued its CX-7 and replaced it with a smaller CX-5 model (which, interestingly enough, goes against the growing-in-size trend).”
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