Demand for cars at auction was strong last week, as nearly all car segment saw gains to their wholesale values, according to Black Book’s March 19 Market Insights report.
Overall, average wholes car values were essentially flat last week, down 0.01%, compared to 0.14% the week before. Had it not been for luxury vehicles the car segment would have seen a week-to-week rise in average wholesale values.
Near luxury, luxury, prestige luxury, and premium sporty cars experienced declines in their average wholesale values ranging from 0.14% to 0.56%. Subcompact, compact, mid-size, full-size, and sporty cars all experienced week-to-week gains in wholesale value.
"All the non-luxury car segments and lower-valued crossovers show very strong demand as active bidding by dealers continues in the auction lanes with few no-sales," said Anil Goyal, executive vice president, operations for Black Book.
Within the truck segment, subcompact crossovers and compact vans also experienced week-to-week gains in wholesale value. Overall, truck segment values decreased by 0.27%, compared to 0.22% the week before.
Similar to the car segment, the heaviest depreciation within the truck segment came from luxury models.