Black Book: Used Truck Prices Continue to Buck Trends
Even as gas prices continue to rise and overall used-car price declines have picked up, according to Black Book’s Ricky Beggs, trucks continue to buck the trend.
So far in September, used-car prices have dropped by 2.0 percent, compared to April when prices slid just 0.2 percent. But trucks, on the other hand, have shown the opposite trend since July, as price declines have eased from 1.8 percent in July to 1.1 percent this month, Black Book’s managing editor shared.
Despite high gas rates, Beggs shared that stability across truck segments continued this past week with three segments increasing in price for the week and another five segments that depreciated by less than 0.2 percent or less.
Midsize pickups, full-size pickups and compact crossovers all showed price increases, Beggs shared.
"Our outlook for the next couple of weeks is an active market with a similar number of changes compared to this past week," said Beggs.
"The trending should again see larger declines with the more luxury-oriented models. We are also watching the late-model vehicles as the lack of interest in wholesale for these could represent some relatively large negative pricing adjustments,” he concluded.