Beggs: Truck Values Strong During Typical Holiday Wholesale Activity
Since last week included Thanksgiving, Black Book found the lanes to be quieter than usual as dealers feasted before hitting the showroom to welcome shoppers.
For dealers who still scoured auctions for inventory a week ago, Ricky Beggs indicated he wasn’t surprised by what comments came back to Black Book headquarters.
“With an abbreviated week of auctions, I was not surprised at the comments from the editors and survey personnel that did attend the auctions this past week. I expected less emphasis on the wholesale acquisition and more on retail,” the managing editor shared during his latest video report, “Beggs on the Used Car Market.
Beggs continued with, “When asked, a couple of dealers indicated having good retail activity so far this November. They wanted to fill some of the empty holes while on-line and at the physical auctions, but their bidding was leaning on the conservative side, unless it was for a $6,000 to $8000 unit.”
Black Book also discovered more positive comments and results in the lanes last week stemmed from activity focused on the trucks and SUVs.
“The full-size vans were less of a force, as very few even sold,” Beggs noted.
“With gas and diesel at the pump easing down, there was very active bidding and competitive pricing on the full-size pickups and especially almost all configurations with diesel power plants under the hood,” he added.
Beggs also reflected back on the holiday one more time.
“We sincerely hope everyone had a great time with family and friends along with the time to enjoy the traditional Thanksgiving feast. We trust there was time to watch some college and pro football,” Beggs said.
“Being with family and friends give us the opportunity to think about the many things and people we are so blessed to have around us,” he went on to say.
Black Book will be attending the Recreation Vehicle Industry Association’s national show in Louisville, Ky., this week. Beggs indicated the team will be gathering new model information in order to report on all the correct RV and camper models.
Later this week, Black Book will be posting the most current “Beggs on the Specialty Market” video blog covering these RVs as well as the motorcycles, collectible cars and the industry workhorse medium and heavy duty truck and commercial trailer markets.
“That’s the latest market update from the short auction week,” Beggs declared. “We look forward to seeing you back on the auction lanes this week in full force. Have a great week.”
Beggs’ videos can be viewed here.