Used vehicle sales prices declined sharply in November after a strong start earlier in 2019. November of 2019 ended as the weakest month for used vehicle sales in two years, according to the Black Book Market Insights Report.
Volume-weighted, the overall truck segment (pickups, SUVs and vans) had price values decrease by 0.88 percent last week. The segment is the prevalent segment of towable vehicles used to pull RVs.
A decrease in used tow vehicle sales prices indicates that demand is falling for these types of vehicles. Consumers looking to purchase a used tow vehicle to pull an RV may find bargains according to the numbers released by Black Book.
In comparison, market value of all vehicles decreased by an average of 0.79 percent over the recent four-week period. Trucks, sub-compact, crossover and full-size crossover SUV segments decreased the most.
Volume-weighted, the overall car segment had values decrease by 0.91 percent last week. In comparison, market values decreased on average by 0.86 percent during the prior October four-week period indicating that the value of automobiles continues to decline as the end of the year approaches.
The report found that luxury cars, new luxury cars, full size cars and sub-compact cars each had decreased the most in value. The decline of these segments is not indicative of declines in RV pricing.
The national vehicle trend for available supply of used cars and trucks are on two different tracks, according to the report. The supply for used cars has hit a peak and is starting to decline, according to the report.
In contrast, the supply for used trucks will continue to grow to unprecedented levels in the coming years according to Black Book. This availability of used tow vehicles may indicate inexpensive tow vehicle pricing for first-time RV buyers who may need to purchase a tow vehicle prior to buying the recreational vehicle.
