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Black Book Offers New Valuations

Wednesday, 10 January 2018 00:50
Black Book has debuted VIN-specific history-adjusted valuations, an analytics-driven process for determining the impact a vehicle’s history has on its value.These valuations analyze multiple factors and events in a vehicle’s history such as number of owners, vehicle usage, accident and accident severity, title issues, flood/hail/fire damage, certified pre-owned history, and other variables that are not obvious when physically inspecting a vehicle.Black Book says that history-adjusted values are 31 percent more precise on average when compared to the auction transaction price than valuations without a history adjustment included.

Black Book Index Sees First Decline Since Summer

Sunday, 07 January 2018 19:10
Black Book saw its Used Vehicle Retention Index fall in December to 114.1 from 115, its first decline since August. The Black Book Used Vehicle Retention Index is calculated using Black Book’s published wholesale average value on two- to six-year-old used vehicles, as percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition. The index offers an accurate, unbiased view of the strength of today’s used vehicle market values.After rising for three straight months, the index fell largely due to higher depreciation recorded for both car and truck segments. December saw higher depreciation on a mix of both car and truck segments, led by full-size luxury CUV/SUV (2 percent); mid-size luxury CUV/SUV (1.9 percent); full-size cars (1.7 percent); compact crossovers (1.7 percent) and compact cars (1.4 percent).

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New Car Prices Rise

Wednesday, 03 January 2018 20:36
The analysts at Kelley Blue Book report the estimated average transaction price (ATP) for light vehicles in the United States was $36,113 in December. New-car prices have increased by $583 (up 1.6 percent) from December 2016, while climbing $66 (up 0.2 percent) from last month.  Transaction prices for all of 2017 also finished 2 percent higher than last year, slightly slower growth than 2015 and 2016, which was at 2.5 percent.Incentive spending averaged 10.4 percent of MSRP in 2017. This figure held relatively flat over the final quarter of the year.

Small Businesses Slow Hiring

Tuesday, 02 January 2018 23:16
The Paychex | IHS Markit Small Business Employment Watch closed the year with a decline in small business job growth and wages up over the previous year. At 99.70 in December, the Paychex | IHS Market Small Business Jobs Index has fallen a full percentage point from its February level, 100.78.After moderating just below 100 for several months, the national index dropped more in December (0.16 percent) than the past four months combined (0.12 percent).Slowing slightly to 2.76 percent annual growth in December, hourly earnings averaged 2.85 percent in 2017, a slight increase from 2.75 percent in 2016.At 3.14 percent, weekly earnings annual growth remains strong, but decelerated month-over-month for the first time in several years.