Black Book: Used Pickup Value Retention Beats Average for Car & Truck Segments
August new-vehicle sales of full-size pickup trucks climbed 16 percent, according to Black Book, which said Thursday that this increase was the strongest experienced by this segment since 2009.
But it’s not just the new side of the market where pickups have shown strength.
Black Book indicates that used pickups — compact, midsize and full-size — have maintained their value “better than the overall average car and truck categories, showing continued demand in the used markets, as well as new retail.”
For example, the used value of compact pickups fell just 1.6 percent from June 29 to Aug. 30, with midsize pickups down only 2.5 percent during this time frame and full-size pickups off 3.5 percent.
All three segments have been steadier than the overall movement in car segment values, which fell 3.7 percent during this two-month span, and the respective average change in overall truck values (a 3.8-percent drop) in this same period.
“The overall used-vehicle market has experienced moderate declines in values during 2012, with much of this taking place in the second and third quarters," said Black Book’s Ricky Beggs.
"The trends we have seen across the pickup truck segments are a glimpse into the resilience of the overall economy, as many in the service industries are creating stronger demand for trucks,” he added.