Black Book’s newest installment of Market Insights gave a clear look at what happened in the lanes during the last full week of the month, quarter and first half of the year.

And it appeared consignors might have cleared some volume, and dealerships reinforced their inventory to prepare for sales fireworks amid Fourth of July.

“In June, the market remained stable,” Black Book said in the report that indicated overall wholesale prices softened 0.51% during the week that concluded on the penultimate day of June.

“However, depreciation continued for both car and truck segments even though there was an increase in the auction conversion rate,” analysts continued while pointing out that the market depreciation rate continues to surpass pre-pandemic seasonal trends.

“This ongoing depreciation amid higher auction success rates suggests that vehicles are losing value, influenced by factors like supply and demand dynamics, market conditions, or external economic factors. The trend indicates that market stability does not necessarily equate to appreciating vehicle values,” Black Book said.

“In the last week of June, the auction conversion rate peaked at 57%, marking the highest rate achieved for the month. This indicates a strong close to the month in terms of vehicles being successfully sold at auction,” Black Book went on to say.

Analysts determined all nine car segments softened in value last week, creating a 0.53% depreciation drop on a volume-weighted basis.

Car prices softened consistently no matter the unit’s age, as Black Book said values for cars 2 years and newer dropped 0.37% while prices for 8- to 16-year-old cars decreased -0.36%.

Pacing the declines were full-size cars and sub-compact cars, which dropped by 0.78% and 0.81%, respectively, according to Black Book tracking.

All 13 of the truck segments reported a value decline last week, according to analysts, who computed the overall drop to be 0.50% based on volume-weighted data.

Black Book said values for compact vans decreased again, extending the downward streak for those units to 12 weeks in a row. Compact vans and sub-compact crossovers both generated depreciation readings exceeding 0.70%.

While the car business will still be trying to move metal in between cookouts and celebrating U.S. independence, Black Book reiterated, “as always, our team of analysts are focused on the keeping their eyes on the market for developing trends and gathering insight.”