After a gradual softening, Black Book noticed that overall wholesale market values increased for the first time since the week before Christmas.

According to the newest installment of Market Insights released on Tuesday, Black Book reported that overall wholesale prices ticked up 0.11% with the car segment movement (up 0.38%) overcoming a slight dip among trucks (down 0.02%).

“The market gained some strength last week,” analysts said in the report. “Compact cars once again led the increases this past week, and conversion rates continued to improve as buyers brace for what they expect will be a continuation of supply struggles.”

With fuel costs continuing to leave an impact, Black Book determined those previously mentioned compact cars fetched higher prices during the week that closed on Saturday to the tune of a 0.91%. That reading came a week after values for those particular units increased 0.92%.

And if dealers wanted a compact car that was between 8 and 16 years old, analysts said that particular vehicle cost them 1.16% more last week than it did during the previous one.

Black Book mentioned values for luxury cars (down 0.37%) and premium sporty cars (down 0.22%) were the only car segments to soften last week.

Another trend among cars that analysts mentioned was prices for subcompact cars continued to increase, rising 0.41%. Black Book said newer models in that specific segment rose even more, as prices subcompact cars less than 2 years old spiked 1.17%.

Over in the truck department, Black Book’s volume-weighted information showed seven out of the 13 segments posted price increases, with compact crossovers increasing for a fifth consecutive week. The latest rise for those particular models (0.41%) helped to push the average weekly gain during that streak to 0.32%, according to Black Book.

After 12 weeks of price declines, analysts noticed values in the minivan segment turned higher again last week with an increase of 0.18%.

Black Book added that both compact vans (up 0.55%) and full-size vans (up 0.32%) continued their values increases. In fact, prices for full-size vans now have climbed for 66 consecutive weeks.

Meanwhile, analysts said prices for small pickups posted the largest decline among trucks last week, sliding by 0.72%.

With the estimated average weekly sales rate continuing to increase and now at 71%, Black Book closed its latest update with these observations.

“Newer used vehicles continue to be popular in lane, especially those with lower miles or in cleaner condition. Model-year 2022 vehicles are beginning to trickle in but often they are damaged, repossessed, or buybacks,” analysts said.

“Canadian imports are still popping up here and there but nowhere near the volume seen in prior months. Rental companies and large independents are still attending sales but have been less aggressive over the last few weeks, allowing franchise and smaller independent dealers opportunities to purchase vehicles,” analysts continued. “Many sellers are holding floor prices in anticipation of higher values.

“Wholesale values did increase overall this week, with smaller vehicles on the passenger car and light truck side being the most coveted. Fuel prices are on the rise again after a slight drop at the beginning of April and dealers are planning accordingly,” Black Book went on to say.