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June 5, 2008
Diesel Values Dropping Dramatically
Beggs concluded “Diesel engines have historically been popular power train choices for three quarter and one ton trucks due to their increased performance, better mileage, and longer lifespan. Although fuel prices are certainly on everyone’s mind right now, it’s possible that diesels have dropped more than they should have when the “big picture” is considered. The average $5900 drop in values since January represents a 20% - 25% decline in the total asset value of these vehicles. Another factor that has certainly played a role in driving down diesel pickup’s values is the mortgage/housing crisis and the associated slowdown in construction jobs. Although many personal use trucks have diesel engines, the majority are in vehicles used by tradesmen who are especially vulnerable to disruptions in the overall economy.”
The values of new and used vehicles can change very quickly in an unstable environment. Dealers and financial institutions can now keep closer tabs on the values of the vehicles on their lots and in their portfolios by using Black Book’s daily updates. Any automotive professional using a guidebook or data that is only updated monthly or bimonthly runs the risk of being off by several thousand dollars, exposing them to a significant financial risk. Black Book Daily TM can deliver updated used vehicle values in nearly “real time”, and should be considered an essential tool for every automotive professional.
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