Wholesale used vehicle prices continue to trend down.
Prices dropped 0.36 percent at the end of the first week of February. It was a slight tick up from the 0.34 percent slide from the previous week, according to BlackBook’s Market Insights.
“Despite the uncertainty introduced into the market last week due to the President’s negotiations with Canada and Mexico regarding a 25 percent tariff on imports, the wholesale market remained resilient, showing strong sales nationwide and values that continued to align with seasonal depreciation trends,” BlackBook reported.
Auction activity increased with sales conversion, moving from 58 percent to 59 percent.
“There was an increase in the auction conversion rate and a slight uptick in total auction inventory,” BlackBook noted.
All 22 segments followed by BlackBook experienced declines. Compact cars (0.57 percent or $60), sub-compact luxury crossover SUVs (0.73 percent or $113) and full-size pickups (0.59 percent or $142) experienced the largest drops.
The 13 car segments fell an average 0.3 percent or $43. The 22 truck and SUV classes were down an average of 0.38 percent or $71.
Minivans stopped their recent plunge in price. Depreciation in the segment slowed from an average of 0.89 percent in the past two months to 0.39 percent this week.
