Most sellers were holding firm to floors, as demand at auctions has increased due to the strong retail demand being driven by stimulus checks and unemployment benefits. In some cases, we saw buyers and sellers walking away from deals over as little as $100. At many auction locations, the supply available for sale is still down as staffing reductions have left them unable to process vehicles as quickly as needed.
Despite most auctions continuing to operate under an all-digital platform, sales volume has rebounded to a level consistent, and some days higher, than the same time last year. This is being driven by strong retail sales leading dealers to use the auctions as a source of inventory. The number of sales bottomed out around an 80% year-over-year decline when most auctions closed their physical sales (and some closed entirely) at the end of March. black book market research in 2020.
At the onset of the pandemic, as shelter-in-place orders began to go into effect, sales rates quickly tumbled into the teens, but rates have been slowly climbing each week. On average, we’ve now seen sale rates remaining at a consistent level each week. Black Book’s estimate of the Weekly Average Sales rate is presented below.
21% this past week - black book. Most vehicle segments experienced increases or stability, except for Sub-Compact Car, Prestige Luxury Car, and Premium Sporty Car. black book market research in 2020. Prestige Luxury Car and Premium Sporty Car segments have higher MSRPs, so it is typical to see them depreciating this time of year. The largest increase was the Compact Car segment for a third week in a row at 0.
72% increase the week prior). When volume-weighting is applied, the overall Truck segment (including pickups, SUVs, and vans) values increased by 0. 04% last week. The Small Pickup segment increased for a second week in a row - black book market research. Full-Size Trucks have shown slowed depreciation in recent weeks, but this past week there was a slight increase of 0 - black book market research findings.
This is a segment that has seen increased demand on the new side due to the attractive incentives, such as 0% for 84 months, and as dealers sell a large portion of their new car inventory, dealers are stocking up on used units in preparation for delays in new inventory shipments caused by months of production shutdowns - black book research.
During the last four weeks we have observed that weekly depreciation rates have started to slow down and, in the case of this week, increased in most segments. Covid-19 has hit the Minivan segment especially hard, depreciating faster than the average weekly truck segment each week except one. The minivan segment has a 10-week average decline of -1.
17% - black book. There are only nine models (246 trims) that make up this reporting segment, (2012-2018) which include terminated models like Chrysler Town & Country, Nissan Quest, and Volkswagen Routan. Only six models remain in current production and split the roughly 2% overall market share: Honda Odyssey, Chrysler Pacifica, Chrysler Voyager, Dodge Grand Caravan, Toyota Sienna, and KIA Sedona.
Wholesale prices dropped significantly in April as uncertainty over COVID-19 impact and response dampened vehicle demand, resulting in an overall wholesale price decline of 5. 9% in April - black book research. We saw a substantial improvement in prices during the last two weeks of May and the monthly decrease was limited to only -1.
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