All models of wholesale used vehicle prices finished December on the decline.
The wholesale market, according to BlackBook’s weekly Market Insights at the end of December, was down 0.38 percent. It continued a trend from earlier in the month.
“Depreciation slowed down, with the overall market declining by 0.38 percent, compared to a 0.46 percent decline the week before,” BlackBook noted.
All nine of the car segments dropped by an average of 0.35 percent or $52. Full-size cars were down $105 or 0.65 percent. Compact cars fell 0.5 percent or $54.
All 13 truck and SUVs declined in price. The average fall was 0.4 percent or $75. Five segments – midsize and full-size crossover SUVs, midsize and full-size luxury crossover SUVs and minivans – dropped by more than $100 in price. Full-size crossover SUVs lost $149 or 0.55 percent in value.
Due to the holidays, auction conversions lagged at the end of December at 44 percent. It was a 12 percent drop from the previous week.
“Auction activity decreased significantly, with some auctions either rescheduling their sale dates or canceling altogether. This reduction in activity led to a sharp drop in the nation’s overall conversion rate, which fell to 44 percent from 56 percent,” BlackBook reported.
