Hello and welcome to this week’s edition of Beggs on the Used Car Market. Some of you may have tuned in earlier on Monday morning with no fresh weekly market update posted. We always push to have the latest market info included, and due to attending the Dealer Expo in Indianapolis over the weekend, waited until Sunday night to put our thoughts together and early Monday morning to finish the recording.

Over the past couple of weeks we have been around new and used car dealers at the NADA Convention and Expo in Las Vegas, and then a large group of motorcycle and powersports dealers at the Dealer Expo in Indianapolis. From within both industries it is very obvious about the enthusiasm toward the state of the market, and how the dealers see the opportunities that are in front of them heading into the heart of 2012.

The dealers at both conventions were looking for the top tools to help them grow their business. One of those tools is the mobile solutions products, especially the one announced by Black Book at Dealers Expo, an Android app (joining our previously released iPhone app) to look up the most current and accurate motorcycle values. There were also many longtime auto market dealers at the Dealer Expo who were glad to now have a solid motorcycle app.

Even though Scott Yarbrough and I were in Indy, the other Black Book editors were still covering the market for cars and the Medium and Heavy Duty Trucks, as well as getting a close look at a couple of majorly updated 2013 new models that will soon be released for consumer purchase.

Let’s now take a look at the auto market activity and results for the last week. It was almost like two different markets. Many times when we say this, we are referencing the different trending between the cars and trucks, or between small cars and big trucks. But this past week the differences were noticed between the Clean condition vehicles and the Average condition units.

There were more Average condition vehicles adjusted than Clean with the Daily adjustments – 1821 for Average and 1454 per day for Clean. Then there were more of those Average condition adjustments that were increases as compared to Clean – 52% for Average vs 41% for Clean. And finally, the overall $ change of the adjustments was the Clean condition declining by $31 and the Average condition declining by only $17.

I see this trending where the Extra Clean car values have been so strong, so an upward change was not necessary. And along with the push of tax season buyers having to get additional inventory to meet the market demand the top of the line car was also in demand.

Overall we ended up with 5 of the 24 total segments increasing for the week. Another change in the trending patterns was with more car segments increasing than trucks. The Entry Level Cars (ELC) increased by $28, while the Compact Cars (SCC) increased by $7, along with the Entry Mid-sized Cars (EMC) climbing by $4.

The trucks were positively led by the Mid-sized Pickup Trucks (MPT) that climbed the most at a $39 increase and the Compact SUVs (CSU) with a solid $22 increase.

We have another big week ahead, capturing data and doing some in-depth analysis of all these numbers in order to report the most current market. We hope you have a great week and look forward to seeing you on the auction lanes again this week.

Click here to watch Ricky’s weekly video.