Wholesale used vehicle prices increased again in the past week.
According to BlackBook’s market insights for the week of Feb. 18, wholesale used vehicles prices jumped another 0.14 percent.
“The market had another week of increases,” said the BlackBook release. “Cars saw the largest increases with the 2-to-8-year-olds increasing 0.19 percent. But the biggest jump came from the 0-to-2-year-old cars, which gained 0.41 percent. That is the largest this segment of vehicles has had since November 2021.”
Six of the nine used car segments saw increases, led by sports cars jumping $119 or 0.57 percent. Full-size cars were up $86, 0.52 percent.
Trucks and SUVs were up $23 or 0.11 percent, with seven of the 13 segments seeing increases. Full-size luxury crossover SUVs had the largest increase of $85.
Sales at wholesale auctions stayed steady at 49 percent.
“Now in week three of February, we continue to see the wholesale market improving,” BlackBook reported. “Even with higher interest rates and fuel prices elevated, wholesale prices are on the rise. Additionally, auction inventory is showing some signs of improvement, having more vehicles available to purchase in the wholesale channel.”
Retail prices for vehicles 2- to 6-years old stayed steady in the price index. The retail inventory inched up slightly to 0.97 on the index.
Vehicles are still taking 50 days to turn, the same as the previous two week. It is four days longer than the first week of the year.
