Volume-weighted, wholesale values for overall car and truck segments both showed gains for the ninth week in a row, increasing 1.46% overall last week (compared to 1.45% the prior week), Black Book reported.
The overall car segment saw values increase by 1.71%. The largest gains were seen by the near luxury and sporty car segments with increases exceeding 2%. Compact, mid-size, full-size, and luxury weren’t far behind with increases exceeding 1.5%.
The week-over-week gains continue to be at levels that haven’t been recorded before and have now been brought back to pricing levels seen this same time last year on a per vehicle basis, particularly on some sporty and compact cars that have consistently increased by large amounts each week.
When volume-weighting is applied, overall truck segment (including pickups, SUVs, and vans) values increased by 1.31% last week. After two weeks of all segments increasing, two segments reported stability this past week, the minivan and full-size van segments both had minimal declines.
Throughout the pandemic, the behavior of the full-size van segment has been following a more traditional seasonal pattern of small up and down movement. However, the minivan segment has reacted much like some of the other segments with large declines at the onset of the stay-at-home orders and then a steep rebound when consumer demand increased.