Wholesale used vehicles prices declined slightly in the past week.
The overall market decreased by 0.28 percent, according to BlackBook’s weekly Market Insights. The decline was less than the previous week’s 0.36 percent fall.
BlackBook noted the United Auto Workers’ strike continues to impact the market.
“As the UAW strike continues, the market remains in a state of limbo with dealers still saying it is a ‘wait and see’ situation. Overall, the market is depreciating, but the rate of decline is below what is typical for the time of year,” BlackBook reported.
Mid-size crossover SUVs were the lone vehicle to see an increase in price this past week, 0.09 percent or $20.
“This is the third time in the past five weeks the segment has reported an increase,” BlackBook said.
The nine car segments were down $73 or 0.46 percent. Sub-compact cars fell 1.04 percent or $82. Prestige luxury cars decreased by 0.65 percent or $243.
Trucks and SUVs fell by 0.2 percent or $43. Sub-compact luxury crossover SUVs led the losses, dropping by 0.7 percent or $125. Full-size vans were down $157 or 0.62 percent.
Sales at auction slipped to 52 percent from the high point of the year, 56 percent.
“The UAW strike is now entering its second month with no end in sight yet. One thing is for sure though, this is still causing a lot of uncertainty in the market,” BlackBook reported.
Retail used vehicle prices stayed at 0.97 on the index. Inventory hit a high point for the year at 1.05 points. Vehicles are taking 45 days to turn.
