As the calendar turned to May, wholesale used vehicle prices remain elevated.
Wholesale prices jumped 0.24 percent in the opening week of May, according to the BlackBook Market Insights. That followed a 0.63 percent spike at the end of April, which continued a month-long acceleration of prices.
“The market continued to see week-over-week increases in wholesale values, although the pace of these gains slowed last week,” BlackBook reported. “Despite the moderation compared to the prior two weeks, the scale of these gains remains atypical, as seasonal trends would generally reflect week-over-week declines during this period.”
Auction lanes remain active, with the conversion rate at 61 percent.
“We concluded a strong April in the wholesale market. The auction conversion rate averaged 63 percent, marking the highest rate recorded this year,” BlackBook noted.
Twenty-one of the 22 vehicle segments followed by BlackBook had increases in prices. Compact vans were the only outlier, falling 0.25 percent or $30.
All nine car segments appreciated in prices, adding an average of $29 or 0.17 percent. Sports cars were up $82 or 0.37 percent.
The 13 truck and SUV segments increased $55 or 0.26 percent in prices. Minivans increased by 0.84 percent or $153. Subcompact and compact luxury crossover SUVs gained $118 and $138 in price.
