Lane watch: Wholesale market closes August showing stability
Black Book noticed wholesale prices edged up only 0.01% during the week that finished on the last day of August. That reading came after a week when values stayed steady.
But the newest installment of Market Insights released on Wednesday did contain six notable trends — five from an auction perspective and the other from the retail side.
Black Book indicated values for compact cars started to decrease again after two consecutive weeks of increases. Analysts pegged the price drop for compact cars at 0.37% last week.
And perhaps in a nod toward autumn’s official arrival coming soon, Black Book said values for sporty cars dropped the most among cars as all nine segments declined last week.
Prices for sporty cars decreased by 0.43%, which was in line with the average weekly depreciation of 0.42% that Black Book reported for those cars during the previous three weeks.
Also sustaining a notable level of depreciation were full-size luxury crossovers/SUVs, which slid by 1.09%, according to Black Book tracking. That was the largest decline among trucks last week, marking the largest single-week drop for the segment since last December.
However, Black Book pointed out seven of the 13 truck segments posted a value increase last week, led by small pickups, which appreciated 0.59%. Analysts said prices for small pickups now have climbed for three weeks in a row.
And analysts added the auction conversion rate came in at 59% last week, a decrease of 2% from the previous week.
That’s the main highlights from the auction. What about what’s happening on dealership blacktops?
Well, Black Book’s estimated used retail days to turn dipped again and is now at roughly 42 days.
Now with September here and fall activities beginning to hit their stride, Black Book reiterated in its report that “our team of analysts are focused on the keeping their eyes on the market for developing trends and gathering insight.”