Heading into the final week of May, the wholesale used vehicle market continued its month-long decline in prices.
The overall market fell 0.15 percent in the past week. That followed a fall of 0.24 percent the previous week, according to BlackBook’s weekly Market Insights.
“The market continues to report normalcy with the overall declines on-pace with pre-pandemic behavior. However, the trends aren’t one size fits all, with the trends of auction inventory and conversion rates varying from lane to lane, depending on the seller’s strategy and offered inventory,” BlackBook noted.
Two of the nine car segments followed by BlackBook reported slight increases – full-size cars ($10 or 0.05 percent) and sports cars ($16 or 0.07 percent). Prestige luxury cars fell $87 or 0.23 percent. Cars were down collectively $10 or 0.06 percent.
All 13 truck and SUV categories dropped in price by an average of $39 or 0.19 percent. Crossover luxury SUVs were down $105 or 0.46 percent. Small pickups fell $102 or 0.45 percent.
Auction sales rates declined 1 percent to 55 percent last week.
