\u201cTerms such as \u201cnormalcy\u201d and \u201cstability\u201d signal a refreshing change following four years of volatility, aptly characterizing the present market conditions,\u201d BlackBook reported. \u201cThe market\u2019s downturn last week was in line with the previous week\u2019s trend, marking the end of January 2024. As we anticipate the arrival of the spring market, there are promising signs, such as the compact and sports car categories, which showed an uptick in the last week.\u201d<\/p>\n\n\n\n
Compact cars increased $27 or 0.26 percent last week. Sports cars were up $14 or 0.07 percent.<\/p>\n\n\n\n
Collectively car prices fell 0.22 percent or $31. Near luxury cars were down 0.8 percent or $146.<\/p>\n\n\n\n
Twelve of the 13 truck and SUV categories declined in price. The average fall for trucks and SUVs was 0.38 percent or $70.<\/p>\n\n\n\n
Small pickups fell 0.67 percent or $138. Minivans were down $100 or 0.65 percent.<\/p>\n\n\n\n
The outlier among SUVs was full-size crossover SUVs, which increased in price by $7 or 0.03 percent.<\/p>\n\n\n\n
The conversion rate at auction stayed at 55 percent.<\/p>\n\n\n\n
\u201cOne month into 2024 and the wholesale market continues to show more stability. Less depreciation in both car and truck segments in January compared to December,\u201d BlackBook noted. \u201cAll indicators show this trend will continue in February and we should see more improvement in the market in the days to come. Auction conversion and inventory remained stable this week, another positive sign.\u201d<\/p>\n
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