October reflects multimonth decline.
The Estimated Average Weekly Sales Rate dropped to 53% last week.
It was another stable week in the lanes last week. Inventory is still available and consistent, but there has been a noticeable increase of IF sales and no sales.
Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing. Transparent pricing upfront makes the car buying process more enjoyable for customers and allows Black Book to accurately measure retail market trends.
All of the collectible vehicle market segments we track increased in value during the past year, including Muscle Cars, Pony Cars, Post War American Classics, European/Asian Sports Cars, and Classic Trucks & SUVs.
Repossessions are beginning to show up in the market and with fuel prices returning to a level last seen in February of this year, the Car segment valuations are taking the hardest hit.
The market continued its descent last week, with the level of decline still exceeding what is typically experienced this time of year.
Black Book and Fitch Ratings just unveiled their latest joint depreciation report, taking an in-depth look at car and truck segment depreciation trends in 2021, as well as our outlook and forecast for depreciation in 2022.
Powersports values are declining across the board with one exception as we head into the fall.
The wholesale market continued its decline last week, with the rate of decline remaining consistent with the past seven weeks.
