Beggs: Wholesale Prices Up for One Truck Segment
In reviewing last week’s activity in the wholesale lanes, Black Book’s Ricky Beggs noticed something that had not been spotted in two months.
Speaking about the 14 used-truck categories that Black Book monitors, Beggs noted that “the compact pickup trucks actually increased by $12. This is the first positive movement change in the past nine weeks (for any truck segment)."
Overall, the average change for the car segments was a downward adjustment of $51; for trucks, it was a decrease of $43.
Breaking down the car segments, Beggs noted that while there weren’t as drastic of declines this week, a few categories saw measurable drop-offs.
“There were no $90 and greater declining adjustments like the three segments from the previous week, but the greatest declining segments were varied from the premium sporty cars at $87 to the entry midsize cars at $79 and then the luxury level cars at $64,” he said. (Those same three segments were the ones with $90-plus declines the previous week.)
“This is quite different from a year ago in the cars where the overall declining change was less than half at $23 with the prestige luxury cars declining the most at $56 with one segment, and the near-luxury cars actually increasing by $13 for the week,” Beggs continued.
As for trucks, four segments declined less than $30 and then compact pickups jumped $12.
However, luxury SUVs were off $113, the second straight week it has eclipsed a $100 decline. Additionally, full-size crossovers fell $99, and their average change over the last three weeks is a downward adjustment of $102, Beggs pointed out.
Looking forward, Beggs said: “What can we expect as we look ahead? The percentage of adjustments that were increases at 18 percent this past week continues a run where seven of the past eight weeks had sub-20-percent increases. With a four-week average change of (negative) 0.37 percent for the cars and (negative) 0.46 percent for the trucks per week, we expect a continuation of change in this same range."