LAWRENCEVILLE, Ga.—Last week was the strongest week for used car values in two years, reports Black Book.
Black Book’s latest Market Insights report shows that the market for cars, particularly smaller models, continues to strengthen throughout the spring season.
“It was a very strong week in car values led by compact cars. Tax season demand continues to be strong,” said Anil Goyal, executive vice president, operations.
Volume-weighted, overall car segment values increased by 0.26% last week. In comparison, the market values had decreased on average by 0.11% per week in the previous four weeks.
Among cars, compact car segments increased the most in value last week.
Volume-weighted, overall truck segment (including pickups, SUVs and vans) values decreased by 0.19% last week. In comparison, the market values had decreased on average by 0.22% per week in the previous four weeks.
Among trucks, the sub-compact crossover segment increased the most in value last week.