compact cars experienced the largest decline while compact ... · may 2, 2016 “compact cars...
TRANSCRIPT
May 2, 2016
“Compact Cars experienced the largest decline while Compact Crossover/SUVs showed biggest lift in values as supplies on small cars remains high while demand for small crossovers continues to be strong.”
Anil Goyal, Senior Vice President of Automotive Valuation and Analytics
Model Years: 2008-2014, Volume Weighted Wholesale Average Values, Weekly Change from 4/22/16 to 4/29/16
Truck Values Improved while Car Segments Continued to Decline Last Week
Volume-weighted, overall car values decreased by 0.21% last week. This is slightly higher than the
average depreciation rate of 0.13% seen in the previous four weeks.
Compact Car, Sub-Compact Car, Prestige Luxury Car and Luxury Car segments performed the worst,
changing by -0.35%, -0.31%, -0.28% and -0.24%, respectively.
Volume-weighted, overall truck values increased by +0.05% last week. This is much better than the
average change of -0.12% seen in the previous four weeks.
Compact Crossover/SUV and Minivan segments performed the best, changing by +0.36% and +0.25%,
respectively.
-$21-0.31% -$29
-0.35%
-$18-0.18%
-$2-0.01%
-$26-0.15%
-$51-0.24%
-$99-0.28%
-$39-0.23%
-$60-0.15%
-$25CARS
-0.21%
-0.6%
-0.4%
-0.2%
0%
+0.2%
WEE
KLY
CH
AN
GE
$00%
+$47+0.36%
+$0+0.00%
-$19-0.09%
-$14-0.07% -$48
-0.23%-$53
-0.24%
-$65-0.21%
+$32+0.25%
$00%
+$4+0.03%
-$27-0.19%
+0.06% +$9TRUCKS+0.05%
-0.6%
-0.4%
-0.2%
0%
+0.2%
+0.4%
+0.6%
WEE
KLY
CH
AN
GE
2
May 2, 2016
Sentiment from the Auction Lanes
Our editors and personnel attend about 60 auctions every week across the country to provide key insights:
“SUV’s, 4x4 trucks and high-end vehicles were in demand at today’s
auction.” Ben from CA
“Good sale today with really good attendance. Buyers looking for good
history and sharp units.” Gerry from FL
“Consignment and attendance were both down this week but still a decent
sale thanks to the internet buyers.” Herb from PA
“Heavy demand for used vehicles in this area with a small sale today and good units selling quickly.” Gene
from PA
“Bidding remains active on both cars and trucks at this location. Trucks remain strong with very little dip in
prices.” Mark from MI
Diesel Prices move Closer to Gasoline Prices
Gasoline price increased last week by $0.025 to $2.162.
Diesel price increased last week by $0.033 to $2.198.
Vehicle Highlight 2017 Buick Envision fits between the compact Encore and the 3-row Enclave. Base MSRP starts at $34,065 not including destination charge. Trim levels include Base, Convenience, Leather, Premium I and Premium II. FWD and AWD variations are available. Close competitors include BMW X3, Acura RDX, Lincoln MKC.
This week’s report includes our Monthly Edition Supplement on Specialty Markets.
$1.50
$1.70
$1.90
$2.10
$2.30
$2.50
$2.70
$2.90
$3.10
U.S. Average Fuel Prices
Gasoline Diesel
Industry Events
Black Book personnel will be
attending several upcoming
events. Among them:
May 9-10th, 2016
Fort Worth, TX
Hope to see you there!
3
May 2, 2016
Late Model Luxury Cars Showing Up At Collector Auctions “We’ve been seeing a pretty large uptick in late model luxury vehicles showing up
at collectible car auctions recently. Although this isn’t really a new concept (many
of the less desirable auction time slots have been filled in with these kinds of cars
for years), what is different now is the amount that we’re seeing and the prominence that these vehicles,
such as the R-230 (2001-2012) Mercedes Benz SL models, are receiving. ”
Eric Lawrence, Director of Specialty Markets
Three auctions which cater to the more affordable side of the hobby were held recently, the Branson Auction in Missouri, Mecum’s Houston sale, and Leake Dallas. Mecum led the way with sales of $20,000,000 and a 66% sell through rate, while Leake hit $4,100,000 and 59%. Branson’s most interesting offering was the 1967 Grumann Widgeon seaplane used in Fantasy Island, which sold for $303,000. I can’t imagine how many people must have dusted off their best “Tattoo” impression and yelled “De Plane” when it crossed the block.
The two 2006 Ford GT Heritage Editions that were offered at Mecum give us some insight into how the market is currently viewing (and valuing) originality. A pristine example with 1,265 miles sold for an impressive $425,000, while a modified (800hp and a large rear wing) 559 mile car failed to sell after stalling at $327,500.
Notable Sales Include:
2006 Ford GT Heritage $425,000 (Mecum)
1970 Ford Mustang Boss 429 $270,000 (Mecum)
2006 Mercedes SLR McLaren $205,000 (Mecum)
1970 Chevrolet Chevelle SS454 LS6 $170,000 (Mecum)
1997 Lamborghini Diablo Rdstr $162,000 (Mecum)
1964 Lincoln Continental Conv $60,000 (Leake)
2009 Mercedes SL63 AMG Rdstr $28,000 (Leake)
1958 Cadillac Brougham Sedan $88,000 (Branson)
1988 Ferrari Testarossa $104,000 (Branson)
Photo Courtesy of Mecum Auctions
Photo courtesy of RM Sotheby’s
41000
42000
43000
44000
45000
46000
47000
American Classics 1946-75
SPECIALTY MARKETS:
COLLECTIBLE CARS
4
May 2, 2016
RV Values Starting to Level Off
“As we enter the last part of spring and the first part of summer, the values of
RVs sold at wholesale auction have started to level off. This is not surprising for
this time of year, as most dealers have been buying inventory for the past several months in order to be
fully stocked when the first wave of shoppers were lured into their stores by the nicer weather. As the
year progresses, I expect that most dealers in “seasonal” regions will continue to purchase units to
replace their sold inventory until late summer or early fall.” Eric Lawrence, Director of Specialty Markets
For Motor Homes (including Class A, B, and C)
Average selling price was $35,168, up $44 (0.1%) from previous month
One year ago, the average selling price was $35,839
Auction volume was up 2% from previous month
For Towables (including Travel Trailers, Fifth Wheels, and Camping Trailers)
Average selling price was $11,965, up $17 (0.1%) from previous month
One year ago, the average selling price was $10,558
Auction volume was up 25% from previous month
30000
32000
34000
36000
38000
40000
42000
44000
46000
Jan
-12
Feb
Mar
Ap
rM
ay Jun
Jul
Au
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pO
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ov
De
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3Fe
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May Jun
Jul
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4Fe
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May Jun
Jul
Au
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pt
Oct
No
vD
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Jan
-15
Feb
Mar
Ap
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ayJu
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July
Au
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pt
Oct
No
vD
ec
Jan
-16
Feb
Mar
Motor Home Value Trends
9000
9500
10000
10500
11000
11500
12000
12500
Jan
-12
Feb
Mar
Ap
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ay Jun
Jul
Au
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May Jun
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May Jun
Jul
Au
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Oct
No
vD
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Jan
-15
Feb
Mar
Ap
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July
Au
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Oct
No
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Jan
-16
Feb
Mar
Travel Trailer and Fifth Wheel Value Trends
SPECIALTY MARKETS:
RECREATIONAL VEHICLES
5
May 2, 2016
Powersports Market Experiences Mixed Results “After last month’s solid, though modest, gains for most of the segments,
things are more of a “mixed bag” this month. Prices are generally up for the
more recent models, while many of the older units have declined a bit,
bringing down the averages.”
Scott Yarbrough, Motorcycle & Powersports Editor
Both the street and cruiser segments are up by roughly half a percent overall, but older units,
2010s and back, have generally declined in value, while the newer years are up a bit.
The above trend is even more pronounced for utility vehicles, to the point that overall pricing
actually showed a nearly two percent decline this month. This is likely a result of supply finally
catching up with demand as manufacturers have flooded the market with new models and
expanded financing options over the past several years.
Jet Boats and Personal Watercraft are both up roughly a quarter percent versus last month, and
will likely see bigger gains as the weather warms up.
Scooters showed no change overall, and have been very steady recently.
The off-road segments, bikes, snowmobiles, and ATVs, are all down this month.
-1.70%
0.60%
0.20%
-0.60%
-0.90%
0.00%
-1.40%
0.50%
-1.90%
0.30%
-2.50%
-2.00%
-1.50%
-1.00%
-0.50%
0.00%
0.50%
1.00%Motorcycle & Powersports Percent Change April to May 2016
SPECIALTY MARKETS:
POWERSPORTS
6
May 2, 2016
HD Depreciation Consistent for 3 Months in a Row
“Signs of increasing depreciation towards the end of April.”
Charles Cathey, Editor – Heavy Duty Truck Data
Depreciation for the past three months has been very consistent but there
were signs at the very end of April that auction values for the Over the Road
and Regional Heavy Duty Trucks may be starting to drop more heavily. The
Constructional/Vocational segment have showed no signs of this increasing depreciation. We would like to note that
depreciation for the Older Segment (2005-2012) of Over the Road and Regional Trucks and Tractors is less than the
Newer Segment and we are keeping an eye out for the possibility that the newest pre-emission trucks, 2005’s and
2006’s may have less depreciation than the rest.
DATE
Constructional/Vocational Over the Road Trucks & Tractors Regional Tractors
MODEL YEARS Value $ Change % Change Value $ Change
% Change Value $ Change
% Chang
e
05/01/16 78,613 -360 -0.5% 65,815 -813 -1.2% 56,548 -914 -1.6% 2013-2014
04/01/16 78,973 -544 -0.7% 66,627 -891 -1.3% 57,462 -1069 -1.8% 2013-2014
2013-2014 HD Construction/Vocational segment dropped an average of $360 (0.5%) in April compared to the average decline of $544 (0.7%) in March.
2013-2014 HD Over the Road Tractor segment dropped an average of $813 (1.2%) in April compared to the average drop of $891 (1.3%) in March.
2013-2014 HD Regional Tractor segment dropped an average of $914 (1.6%) in April compared to the average depreciation of $1,069 (1.8%) in March.
DATE
Constructional/Vocational Over the Road Trucks & Tractors Regional Tractors
MODEL YEARS Value $ Change % Change Value $ Change % Change Value $ Change
% Change
05/01/16 38,121 -239 -0.6% 31,809 -405 -1.3% 23,803 -389 -1.6% 2005-2012
04/01/16 38,361 -232 -0.6% 32,215 -418 -1.3% 24,192 -406 -1.6% 2005-2012
2005-2012 HD Construction/Vocational segment dropped an average of $239 (0.6%) in April compared to the $232 (0.6%) in March.
2005-2012 HD Over the Road Tractor segment dropped an average of $405 (1.3%) in April compared to $418 (1.3%) average deprciation in March.
2005-2012 HD Regional Tractor segment dropped an average of $389 (1.6%) in April compared to the average drop of $406 (1.6%) in March.
-$4,500-$4,000-$3,500-$3,000-$2,500-$2,000-$1,500-$1,000
-$500$0
+$500
Mo
nth
ly C
ha
ng
es
Average Wholesale Value Changes (Late Model)
Constructional/Vocational Over the Road Trucks & Tractors Regional Tractors
SPECIALTY MARKETS:
HEAVY DUTY
7
May 2, 2016
Medium Duty Truck Segment stays stable
“The Medium Duty Truck segment is declining at a stable rate.”
Bret Swanson, Editor – Medium Duty Truck Data
We continue to see in the Medium Duty Truck wholesale market, a stable rate of decline. The 2005-2012
model years came down on average, $109 or 0.6%. In March, that average decline for this group was, $114
or 0.6%. The 2013 & 2014 model years had similar declines. The average amount of decline was $346 or
0.8% for April, and in March, that average decline was $335 or 0.8%.
The upward push on diesel fuel prices is continuing. The national average price per gallon now stands at,
$2.20. This is still better than the average price of $2.81 per gallon, one year ago.
1745 N. Brown Rd., Suite 130, Lawrenceville, GA 30043| 1.866.452.1400
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+$0.03+$0.04+$0.01
-$0.01
+$0.00
-$0.61-$0.62-$0.63
-$0.67-$0.70
-$0.80
-$0.70
-$0.60
-$0.50
-$0.40
-$0.30
-$0.20
-$0.10
$0
+$0.10
04/25/1604/18/1604/11/1604/04/1603/28/16
Diesel Price Changes
Change/Week Change/Year
SPECIALTY MARKETS:
MEDIUM DUTY
Value $ Change % Change
05/01/16 18,351 -109 -0.6% 2005-2012
04/01/16 18,460 -114 -0.6% 2005-2012
MODEL
YEARSDATE
Medium Duty
Value $ Change % Change
05/01/16 40,417 -346 -0.8% 2013-2014
04/01/16 40,762 -335 -0.8% 2013-2014
MODEL
YEARS
Medium Duty
DATE