Wholesale used vehicle price gains slow in past week

The pace of increases in the wholesale used vehicle market continued to slow in the last week.

The overall market increased 0.27 percent in the past week, according to BlackBook’s weekly insight. The market increased by 0.31 percent last week after starting April with the gains of 0.43 and 0.51.

“The market continued to report increases last week,” said the BlackBook report.

Sports cars continued to pace the used car market, gaining 0.75 percent or $179. All nine car segments increased in price last week, with an average of 0.37 percent or $66.

Ten of the 13 truck and SUV categories recorded price gains, with an average of 0.22 percent or $53.

The price of full-size luxury crossover SUVs jumped $222 or 0.47 percent. Minivan gained $122 or 0.62 percent.

Compact luxury crossover SUVs, compact vans and full-size vans all dropped slightly in price.

Sales at auction dropped slightly to 50 percent from 51 percent.

“Auction conversion rates were stable with the lane outcomes showing some mixed messages, depending on the remarketer’s strategy and location,” BlackBook said. “It leads us to wonder if the spring market has now come to an end, if rates will continue to show mixed messages, or if once again, we will trend into clear rate movement? The general mood of those we’ve talked to is that we still have some weeks of high auction demand ahead of us.”

Retail prices for vehicles 2- to 6-years old stayed at 1.02 on the used retail price index, the high point for the year. The retail inventory increased slightly to 0.95 on the index. Vehicles are taking 53 days to turn, a decrease of three days from last week.

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