As the calendar turned to May, wholesale used vehicle prices remained elevated.
That changed by the end of the month, with prices returning to normal depreciation, according to BlackBook’s Market Insights.
The wholesale market dropped 0.03 percent and 0.07 percent in the final two weeks of May, ending a streak of 10 weeks of rising prices.
“Last week marked the first time since late February that both the overall car and truck segments showed negative trends. Only two car segments, full-size and sports cars, recorded positive movement. On the truck side, four out of 13 sub-segments saw gains, with full-size crossover SUVs leading at a 0.66 percent gain,” BlackBook reported. “Over the past two weeks, the wholesale market experienced further declines and an increase in total auction inventory. On a positive note, auction conversion rates improved by 2 percent compared to the prior week.”
Auction lanes remain active, with the conversion rate at 60 percent. That is still down from the 63 percent.
To end May, the nine car segments were down 0.09 percent or $15. Full-size cars were up 0.03 percent or $6 and sports cars 0.27 percent or $61. Subcompact cars fell 1.27 percent or $93.
The 13 truck and SUV segments decreased $15 or 0.07 percent in prices. Full-size crossover SUVs were up $200 or 0.66 percent. Subcompact luxury crossover SUVs increased by $35 or 0.2 percent. Compact vans dropped $32 or 0.27 percent.
