Decline in wholesale prices slows at end of January

Compact cars and full-size vans increased slightly at auction at the close of January.

The two categories stood out as the overall wholesale used vehicle market continued to depreciate, according to BlackBook’s weekly Market Insights. The market fell 0.33 percent in the final week of the month.

“The current market is exhibiting a deceleration in the depreciation rate, with a decline of only 0.33 percent this week, which is slightly lower than the average pre-pandemic rate of 0.39 percent for the corresponding period,” BlackBook reported. “Moreover, vehicles ranging from 8 to 16 years in age are demonstrating modest signs of spring, with five segments experiencing increases last week.”

Compact cars increased by $30 or 0.29 percent. Full-size vans were up $18 or 0.09 percent.

Collectively, the nine car categories fell $37 or 0.26 percent. Sub-compact cars were down 1.3 percent or $89. Prestige luxury cars declined $305 or 0.91 percent.

The 13 truck and SUV categories dropped $68 or 0.36 percent. Compact luxury crossover SUVs were down $113 or 0.55 percent. Mid-size luxury crossover SUVs fell 0.62 percent or $149.

Auction sales picked up, rising to 55 percent.

On the retail market, BlackBook noted prices and inventory are down from the start of the year. Vehicles are taking 54 days to turn.

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