GAINESVILLE, Ga. -

Black Book editors and survey personnel found that dealers often proposed the same question when watching lane activity; used-car managers wondering, “What’s going on here?”

Managing editor Ricky Beggs appeared to have an answer when he compiled the latest edition of his online video blog, “Beggs on the Used Car Market.”

After recapping wholesale prices movements from the first full week of business since the Fourth of July, Beggs stressed, “The bottom line is a slight increase in used-vehicle supply in the wholesale market from the continuously increasing new-car sales levels, along with the current seasonal adjustments which are a reflection of making room for another model year to come into the market, and the change level is more realistic, understandable and expected rather than a level of surprise and reaction of ‘what’s going on here?’”

Here is how Beggs arrived at those assertions.

Editors found that the softening in used values continued as only 11 percent of all adjustments last week were increases to the previously published value.

Beggs indicated the amount was similar to the week ending June 8 and even less than the 18-percent level of one year ago.

“The comment in a report from the western part of the country in Washington saying, ‘prices are coming down slowly’ supports the ‘retail has slowed’ comment from a Tennessee report,” Beggs shared.

“Couple those two comments with the ‘either they want it and will pay or don’t even look’ from a North Carolina report and the lower percent of increases and overall level of changes, fits right in line,” Beggs continued.

Black Book ended up adjusting 3,080 vehicles per day, the second highest amount this year and behind only the week that wrapped up on Jan. 13 when editors modified prices on 3,238 units daily.

Only one other week this year have editors surpassed the 3,000-adjustment level. That instance came for the week ending May 18.

“During the record-setting week in January the percentage of increases was a significant 56 percent and a pretty solid 36 percent during the week when the 3,035 daily changes occurred,” Beggs recapped.

While there was a high amount of daily adjustments, the average wholesale price change a week ago turned out to be a $51 decline, the largest amount since Feb. 3.

“This past week’s change was more than 2.5 times the year ago level of $20,” Beggs calculated. “The most recent five-week average change of minus-$42 was last surpassed by the minus-$55 five-week average during the final week of November and the end of calendar year 2011.”

Looking at car prices, Black Book found the decline ranged from the low end (a $24 dip for entry sporty cars) to the high end (a $77 decrease for entry midsize cars and a $78 decrease for premium sporty cars).

Meanwhile, editors noticed truck prices dropped on average of $58 last week, the largest amount since Sept. 23.

Full-size crossovers sustained the biggest price decline among trucks last week, falling $99. Compact truck stood up the best, but their prices still softened by $28.

"To better understand the level of current changes and softness in the market one only has to look at the most recent five-week average change within the trucks,” Beggs explained. "At the minus-$55, five-week average the next closest five-week average was last fall during the seasonal adjustment period at minus-$49 for the weeks of Aug. 26 through Sept. 23."

To close out his latest report, Beggs mentioned a rare uptick in gas prices. He said prices at the pump moved up by a nickel last week, halting a streak of 15 consecutive weeks of declines.

“Even with the increase we are still 23 cents less than the price at the pump one year ago,” Beggs pointed out.

“Make sure you tune back in next week for the latest market report to see if these current trends continue,” he continued. “We’ll see you on the auction lanes and wish for you to a great week.”

Beggs’ video can be viewed below.