The wholesale used vehicle market saw prices increase for the first time since April this past week.
The overall market was up 0.1 percent in the opening week of September, according to BlackBook’s Market Insights. The last time for the market to be in positive territory was the final week of April.
“The market continued to report stability last week, with a majority of the truck and crossover/SUV segments experiencing an increase in values, resulting in an overall market uptick of 0.1 percent. In contrast, the same week pre-COVID averaged a decline of 0.12 percent,” BlackBook reported.
Truck and SUV price gains powered the change in the market. The 13 segments of trucks and SUVs were up collectively 0.09 percent or $17. Seven categories reported increases led by small pickups jumping 0.59 percent or $127.
Full-size luxury crossover SUVs experienced a 1.09 percent drop or $430. BlackBook noted it was the largest drop for the segment since last December.
All nine car segments followed by BlackBook fell in price. The average fall was $31 or 0.2 percent. Sports cars were down 0.43 percent or $93.
Activity on the auction lanes remains steady. The conversion rate was 59 percent last week, a drop of 2 percent from the end of August.
