Outside of sub-compact luxury crossover SUVs, wholesale used vehicle prices are starting December on the decline.
Sub-compact luxury crossover SUVs saw an increase in price of $43 or 0.27 on the wholesale market, according to BlackBook’s weekly Market Insights in the last week of November. It was the only segment to see an increase in price. Collectively, the market decreased by 0.29 percent.
“Depreciation slowed last week, with overall auction activity affected by the Thanksgiving holiday,” BlackBook noted. “The market saw a slight decline of just over a quarter percent, significantly less than the pre-pandemic average of 0.82 percent for the same week. This is also a marked improvement compared to the same time last year when the market experienced a substantial decline of 1.86 percent.”
All nine of the car segments dropped by an average of 0.33 percent or $50. Premium sports cars were down 0.54 percent or $304.
Twelve of the 13 truck and SUVs declined in price. The average fall was 0.28 percent or $54. Sub-compact crossovers were down $59 or 0.5 percent.
The limited auction activity due to the holiday saw a 59 percent conversion rate.
