GAINESVILLE, Ga. -

Black Book found the wholesale market was streaking last week.

For the second week in a row, all 24 vehicle segments the firm watches declined for the week. And for the sixth consecutive week, the average change within car segments was greater than the previous week.

Managing editor Ricky Beggs tried to put the developments into perspective, but the industry veteran began his latest video session of “Beggs on the Used Car Market,” by acknowledging, “What a week it has been in the used market.”

Turns out, Black Book adjusted almost 2,900 vehicles a day last week, pushing activity volume to its highest level ever.

“We have been tracking daily changes since February 2008 and have never reached this level,” Beggs admitted.

While Black Book was busy making adjustments, only a small percentage were for increases; in fact, just 15 percent. Beggs indicated that was the lowest level since the week ending Nov. 19.

And the average decrease recorded last week also reached a level Black Book hasn’t seen since that same time last November. Last week’s adjustment level sent units down by an average of $119. During that November stretch, prices were off by $122.

As mentioned previously, car segment declines have gained downward momentum during each of the past six weeks. Black Book found last week’s average car decline was $43.

Beggs pointed out compact cars didn’t drop as much as the average (down $14), but prestige luxury cars paced the downward push, dropping $87. He said that specific car segment has led the category each of the past three weeks. Entry midsize cars (down $61) and entry level cars (down $58) also dropped more than the car average.

In yet another streak to mention, Black Book determined all 14 truck segments slipped last week — the fourth one in a row.

“With the trucks still being soft in the market, the overall average change continues to jump all around, falling $15 more this week than the previous week,” Beggs explained.

While truck prices averaged a $53 decline, two specific types sunk much more. These truck categories were full-size pickups (down $151) and luxury SUVs ($147).

Not sinking as much as the truck average but dropping nonetheless were compact pickups (down $13), full-size SUVs (down $22) and full-size crossovers (down $30).

After going through the numbers, Beggs shared that Black Book received some slightly different comments from auction arenas across the country this past week.

“There continued to be the typical comments from dealers and auctioneers like ‘many no sales’ and the ‘under $10,000 vehicles are still selling,’” Beggs indicated.

“This past week some of the dealers’ thoughts were on a broader perspective as the comments referenced the stock market, questioning the overall economy and even thinking further ahead, questioning the possible aggressiveness to get new cars sold in the upcoming final few months of 2011 and how this might affect the values in the used market,” he continued.

“I think we are already seeing the reaction to some of these thoughts as we have seen a higher level of no sales on the used 2010s and 2011s,” Beggs went on to say. “Even with these challenges we still were able to get enough market data to include used values on 14 additional 2011 models.”

Beggs also mentioned he was set to attend this week’s Summer Roundtable orchestrated by the International Automotive Remarketers Alliance.

“I am looking forward to being part of the IARA this week celebrating the 10th anniversary of this group of leading industry remarketers with discussions on the market, issues that affect the industry and the IARA being the voice of the remarketing industry,” Beggs said. "I will share some insights from the roundtable next week.

“Until then, I hope you have a great week,” he concluded.

Beggs’ videos can be viewed here.