Wholesale used vehicle prices continue slide

Wholesale vehicle prices continued to fall throughout June.

Entering the final week of the month, prices fell 0.57 percent, according to BlackBook’s weekly Market Insights. It followed a 0.55 percent fall the previous week.

All 22 segments followed by BlackBook fell in price.

“The market continues to decline at about half a percent per week, which is higher than the pre-pandemic average of nearly a quarter percent for this time of year,” BlackBook noted.

The nine car segments fell $100 or 0.62 percent. Prestige luxury cars were down $373 or 1 percent. Compact cars fell $114 or 0.96 percent.

The 13 truck and SUV categories were down $114 or 0.55 percent. Subcompact luxury crossover SUVs fell $212 or 1.26 percent. Compact vans lost $141 or 1.15 percent.

The auction lanes remain active.

“Despite stable auction inventory, auction conversion rates have remained high, consistently above 50 percent,” BlackBook noted.

The auction conversion rate stayed at 56 percent last week.

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