At the midway point of August, wholesale vehicle values continue to hold strong, according to Black Book’s Aug. 27 Market Insights report.
Overall, wholesale car segment values decreased 0.06% last week, essentially flat compared to the 0.11% decline the segment experienced the week prior. Meanwhile, overall truck segment values decreased 0.16%, compared to 0.10% the week before.
The best-performing segment among cars was the full-size car segment. Through last week, the segment’s value was up 0.22% over the previous week. Among trucks, the best-performing segment was the small pickup segment, which was up 0.40% week-over-week.
The subcompact car segment had the weakest showing last week, as average wholesale values for the segment was down 0.35%. Compact luxury crossovers/SUVs were the weakest segment among trucks, dropping 0.60% in value over the previous week.
“Another banner week for used vehicle values,” said Anil Goyal, executive vice president, operations for Black Book. While consumers prefer SUVs to cars in the new market, cars are in strong demand as the more affordable option in the used market.”