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Price Drops at Auction, Expect more of the same next week?

According to the latest edition of Black Book Market Insights, overall prices for cars at auction dropped by 0.62 percent or $73 last week, which was higher than the average declines seen over the previous four weeks.

Trucks, on the other hand, saw values fall by just 0.27 percent or $44 last week, which is in line with movement seen over the past month.

“Depreciation rate on car segments picked up a little. While trucks continued to perform better, a couple of previously strong segments experienced a market correction,” said Anil Goyal, vice president of automotive valuation and analytics.

The upper mid-size cars also saw a large decline, with rates dropping by 0.77 percent or $86. The compact cars also saw larger-than-average drops, with rates falling by 0.87 percent or $72.

The story was a bit different for the better-performing sporty cars (-0.43 percent or -$69) and luxury cars (-0.21 percent or -$43).

2015-07-29T12:27:18+00:00 By |Categories: Auction News|Tags: , , , , , |

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