LAWRENCEVILLE, Ga.—A new report indicates that used vehicle values are performing better as the spring buying season approaches.
Black Book reported that used car and truck values entering February are holding up well.
“Lower mileage trucks and SUVs continue to be in demand. We are seeing consignors holding out for more money on their units to drive up prices," said Anil Goyal, senior vice president of automotive valuation and analytics.
Volume-weighted, overall car segment values decreased by 0.58% last week, better than the average weekly decrease of 0.69% in values over the previous four weeks.
Mid-size car segment performed the best, decreasing the least in value among all the car segments.
Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.46% last week, slightly better than the average weekly decrease of 0.52% in values over the previous four weeks.
Compact Van segment performed the worst, decreasing the most in value among all the truck segments.