Wholesale vehicle prices decline at seasonal rate

November 20, 2024

Wholesale used vehicle prices stayed on a steady decline through mid-November.

Prices were down 0.51 percent for the week ending Nov. 16, according to BlackBook’s Market Insights. That followed a 0.54 percent decline the previous week.

“The market continues to follow typical seasonal depreciation patterns, with an overall decline of 0.51 percent, aligning closely with the pre-pandemic average depreciation rate of 0.53 percent,” BlackBook noted.

The nine car segments were down 0.61 percent or $92. Full-size cars fell 1.02 percent or $170. Compact cars dropped 0.9 percent or $101.

The 13 truck and SUV divisions declined 0.47 percent or $91. Full-size luxury crossover SUVs dropped 0.97 percent or $377. Mini-vans had a 0.82 percent fall, $137.

Auction conversion rates slipped slightly at the middle portion of the month to 57 percent from 58 percent.

NIADA Author

The National Independent Automobile Dealers Association (NIADA) is among the nation’s largest trade associations, representing the used motor vehicle industry comprised of some 40,000 licensed used car dealers. Since 1946, NIADA has represented the voice and interests of used car dealers at the federal level in Washington D.C. Coupled with its state association network across the country, NIADA’s grass-roots framework provides a dual layer of advocacy unmatched in the used motor vehicle industry. For 75 years, NIADA has engineered programs and leveraged technology to fulfill its mission to advance, educate and promote the independent used car dealer. NIADA members subscribe to a strict Code of Ethics of duty, honor and integrity, and believe in the advancement of small business in support of the free-market system. More information about NIADA, visit www.niada.com.