Wholesale used vehicle prices increased for a second straight week.
The market increased by 0.13 percent, according to BlackBook’s Market Insights.
“Market conditions are reflecting a positive trend and a shift back to traditional patterns in areas such as vehicle valuations, auction attendance, the supply of inventory, and auction conversion rates,” BlackBook noted.
Five of the nine car categories increased in price. Collectively, the grouping was up $13 or 0.1 percent.
Compact cars saw a rise of $30 or 0.28 percent. Full-size cars increased $28 or 0.18 percent. Luxury and prestige luxury cars dropped between $28 and $62.
Eleven of the 13 truck and SUV divisions jumped in price, rising $27 or 0.15 percent. Small pickups led the way, increasing $111 or 0.54 percent. Compact crossover SUVs were up $58 or 0.43 percent.
Full-size luxury crossover SUVs fell 0.59 percent or $215.
Auction sales ticked up slightly, nearing 60 percent.
“The overall automotive auction market is showing signs of improvement, with conversion rates going up and a slight rise in auction inventory nationwide,” BlackBook reported. “The car and truck segments have experienced an uptick in value for the first time this year, with continued positive growth in subsequent weeks, suggesting a gradual but steady increase in vehicle prices.”
