Independent dealers sourcing inventory at auction lately have probably noticed it: buyers are showing up, but they’re not biting on everything.
According to Black Book’s latest Market Insights report, that dynamic continued last week as overall wholesale prices dipped 0.48% — cars fell 0.39% and trucks/SUVs dropped 0.51%. Auction conversion held steady at 57% for the second consecutive week, signaling stable participation, but where the money is flowing has become increasingly strategic.
Black Book described the market as “healthy but increasingly selective,” with the strongest demand concentrated on retail-ready SUVs, pickups, and well-equipped late-model units. Vehicles in average condition, less desirable configurations, and certain EV models saw softer results. Full-size pickups declined for the 11th straight week, with last week’s 0.74% drop the steepest single-week slide since mid-December. Compact cars also softened notably, falling 0.72% versus just 0.23% the prior week.
On the brighter side, full-size luxury crossovers and SUVs showed improvement, with depreciation slowing sharply from 1.06% to just 0.24%. On the retail side, used vehicle days-to-turn remained stable at approximately 34 days — a signal that consumer demand continues to absorb inventory at a steady pace.
