Increased demand at dealer lots during the Fourth of July weekend kept bidding at auction lanes active, resulting in stable wholesale prices through the week, according to Black Book’s Market Insights report for July 11.
Overall car values decreased by 0.17% last week while truck segment values decreased by 0.05%, according to Black Book data. The data is weighted to reflect sales volume by category.
"Wholesale prices remained stable last week as dealers reported good sales during the Fourth of July weekend," said Anil Goyal, senior vice president of automotive valuation and analytics. "Bidding was active in the auction lanes for clean vehicles."
Luxury car and subcompact car segments ranked as the best-performing segments among cars. Luxury segment wholesale values remain unchanged compared to the week before while the subcompact car segment saw its value drop by 0.02%. The worst-performing segments were mid-size cars and full-size cars, which both realized a 0.28% drop in wholesale value.
Six segments among trucks — subcompact crossovers, minivans, compact vans, full-size vans, small pickups, and full-size pickups — saw weekly wholesale values remain essentially unchanged compared to the week before.
Full-size luxury crossovers/SUVs and subcompact luxury crossovers wholesale values declined the most among trucks, declining 0.14% and 0.11%, respectively, according to Black Book.