The rebound of the wholesale used vehicle market continues.
Prices of wholesale vehicles increased for the third straight week, according to BlackBook’s weekly Market Insights. The market grew by 0.14 percent, which is slightly behind the previous week’s growth of 0.24 percent.
“The overall market is still experiencing growth, yet there is a noticeable deceleration in the pace of these gains, and a growing number of segments are beginning to see a reversal into negative trends,” BlackBook reported. “Notably, the luxury segments have exhibited a widespread downturn across all categories last week, with the sub-compact luxury crossover segment standing out as the sole exception to this declining trend.”
The nine car segments had an average increase of 0.27 percent or $38. The midsize cars grew by 0.55 percent or $65. Prestige luxury cars led the five segments that fell in price, dropping $173 or 0.54 percent.
The 13 truck and SUV divisions had a slight increase collectively of 0.09 percent or $17. Full-size crossover SUVs jumped $161 or 0.65 percent. Full-size vans fell 1.47 percent or $303.
The higher prices did not slow auction sales, which hit 59 percent.
“The wholesale market maintains a rising trajectory,” BlackBook noted. “Auction conversion rates this week hit an annual high of 59 percent, marking an increase of 3 percent from the previous week.”
