Black Book: Wholesale Market Finally Turning in Dealer Favor
GAINESVILLE, Ga. — Black Book managing editor Ricky Beggs has seen the wholesale market take a positive turn for dealers. He based this judgment on the fact that fewer vehicles had to have values tweaked upward during the week.
Beggs revealed during the latest "Beggs on the Used Car Market" report that the number of value increases came in at just over 45 percent. He emphasized that was the lowest amount during the last nine weeks going back to Feb. 19.
"We finished another busy week of attending auctions, as well as studying line after line of remarketing data," Beggs recounted.
"Last week I gave an indications there were a few signs that the growth and raises in market values might be on the verge of some stabilization, and that has started to happen," he continued.
Beggs went on to highlight that the 10-car segment average dropped slightly more than $3. Black Book found it was the first time with a negative adjustment for the last six weeks. The firm also mentioned that one half of the specific segment types were down for the week.
Moving on to a discussion about the truck market, Black Book spotted five of the 14 segment types declining.
Beggs interjected, however, that the overall truck market still was in positive territory, gaining $7. He added that the increase was the smallest positive movement since the week ending Feb. 26.
Beggs also shared an update on the printed version of Black Book's guides.
"It is the time of the year when the current model year vehicles are added to the used lineups within the printed Black Book guides," he stated.
"With the values published for April 26 delivery, an additional 91 model-year 2010 vehicles have market driven values included in the guides and data files," Beggs continued.
"Each week as more of the 2010s appear in the wholesale arena, the editors will be adding this information for your use," he went on to say.
Black Book Unveils New iPhone Applications
In other company news, Black Book recently rolled out the availability of its newest iPhone applications, iCollectible Cars and iPowersports.
Black Book executives explained that iCollectible Cars can compile market driven values from the Black Book CPI Collectible Vehicle Value Guide for collectible cars and light trucks produced from 1946 through 2010. The added the application has a special emphasis on muscle cars, pony cars, sports cars, American classics and exotics.
The tool can provide retail values in three condition categories: fair, good, and excellent
When sharing details about the iPowersports tool, officials highlighted how it can share market-driven values from the Black Book Official Motorcycle and Powersports Value Guide for motorcycles, all terrain vehicles, dirt bikes, snowmobiles and personal watercraft produced from 1981 to the present.
Black Book indicated that the values for these units can be offered in several categories, including retail, fair condition trade-in, clean condition trade-in, auction wholesale, finance advance, original MSRP, engine displacement and number of cylinders.
The company pointed out that these new tools are available through the Apple iStore and can be used on the iPhone or iTouch.
Tom Cross, president of Black Book, explained how the addition of iCollectible Cars and iPowersports augments its previously released tool, iUsed Car.
"The response to our first iPhone application, iUsedCar, has been tremendous," Cross indicated. "Many subscribers asked when we would have similar apps available for some of our specialty guides, and I'm pleased to announce that they are now available.
"Both the CPI Value Guide and the Official Motorcycle and Powersports Value Guide are considered to be leaders in their field, and we are happy to be able to offer their content in a cutting edge delivery system such as the iPhone," Cross went on to highlight. "Now dealers and consumers will be able to quickly access these values on a device that they already carry with them on a daily basis."