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September 2, 2008
Black Book® Launches FirstValue™ For
Current Model Year Used Vehicles
Black Book FirstValue…used values from day one™. Best known in the Automotive Industry for publishing timely, independent, and accurate used vehicle values, Black Book today announced it will enhance its product line with the daily publication of values for current model year used vehicles starting at new model launch.
Tom Cross, President of Black Book, commented “Historically, we have published most of our used values for current model year vehicles by the spring following new model launch. With today’s pressing need for more timely, independent, and accurate information, our industry customers, especially on the lending and trade-in sides of the business, have asked us to close this gap by providing values for current model year used vehicles at the time of new model launch. With Black Book FirstValue™, I’m happy to announce that we are now able to do so.”
Ricky Beggs, vice president and managing editor, added “Black Book’s published values have always reflected what is happening at the auctions, which is why we have traditionally waited until the following spring to report the values of current model year used vehicles. This delay created a dilemma for our customers, who occasionally had to deal with used units before enough information was available through the auctions to establish a market-driven value. To rectify this situation, Black Book has developed a new process that builds on our auction experience, along with current market trends, to create estimated values for current model year used vehicles from day one. FirstValues™ have been rigorously researched and established by our staff of editors, who collectively have almost three hundred years of automotive remarketing experience. While these values will not be based on our traditional methods, we feel strongly that they will be a more accurate alternative to other techniques currently used in these situations, and will provide a reasonable stop-gap until we can publish market-reflective values later in the model year using our traditional methodology.”
FirstValues will be clearly labeled within specific Black Book products and automatically made available to all Black Book electronic customers by mid-September, 2008.
About Black Book
Best known in the Automotive Industry for providing timely, independent, and accurate vehicle pricing data, the Black Book® family of vehicle appraisal guides (www.BlackBookUSA.com) is published by National Auto Research, a division of Hearst Business Media. New and used car dealers, lenders, manufacturers, fleet remarketers, and government agencies have relied on Black Book since 1955. Black Book provides values for both new and used vehicles, including cars and light trucks produced since 1946, motorcycles, ATVs, snowmobiles, personal watercraft, and heavy duty commercial trucks and trailers. Black Book data is published daily in multiple electronic formats including data feeds, Internet-based applications, hand held PDAs, web enabled cell phones, Pocket PCs, BlackBerry and Palm devices, SmartPhones, Micro Browsers, online trade appraisal services, and in a variety of other custom products. Printed versions are also available on a weekly basis. Whether you’re buying, selling, or lending, Black Book’s mission is to provide the Automotive Industry with timely, independent, and accurate information to help make the right decisions.