Wholesale used vehicle prices had their largest weekly decline in more than a year this past week.
According to BlackBook’s Market Insights, wholesale vehicle prices fell 0.81 percent this week. Prices declined 0.44 percent the week before.
“The depreciation rate increased, resulting in the largest single-week market decline since mid-December 2023,” BlackBook noted.
All 22 segments followed by BlackBook declined more than 0.3 percent. Sub-compact cars had the largest drop of 1.27 percent or $83. Sub-compact crossover, compact crossover and full-size crossover SUVs fell more than 1 percent.
The nine car divisions collectively were down 0.75 percent or $108.
The 13 truck and SUV categories dropped an average of 0.83 percent or $156. The full-size crossover SUV lost $292 in price (1.11 percent). The full-size luxury crossover SUV dropped $217 (0.58 percent).
Auction activity remains strong to start the year.
“Last week marked the first uninterrupted full week of January in the wholesale market, achieving a 60 percent auction conversion rate for the first time this year. However, this was accompanied by notable depreciation in several vehicle segments,” BlackBook reported.
