The second week of June continued a story of rebounding wholesale prices, with volume-weighted overall car and truck segments both showing gains for a third week in a row, gaining 0.62% overall, Black Book reported.
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Topics mentioned includes the state of the wholesale used-vehicle market; how an increase in employment will boost demand in the used-vehicle market; and sales activity at auctions starting to pick up.
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Black Book’s latest COVID-19 Market Update found that while used vehicle values have continued to depreciate since the last week of March, the rate of depreciation has been significantly lower over the last two weeks.
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The COVID-19 pandemic continues to impact wholesale values for both cars and trucks, but sales rates have started to increase on the lanes, Black Book reported.
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Wholesale values continue to drop for both cars and trucks as the COVID-19 pandemic continues to impact the industry.
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Overall car segment values decreased 0.65% last week. Meanwhile, overall truck segment values decreased 0.73%% last week
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Overall car segment values increased 0.32% last week and overall truck segment values increased 0.20% last week.
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Small truck and car segment vehicles saw steep depreciation last week, continuing the trend of accelerated depreciation within the overall wholesale market.
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Used vehicle values are beginning to buckle as depreciation continues to accelerate, particularly among sedans, according to Black Book’s Oct. 1 Market Insights report.
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Wholesale vehicle depreciation continued to accelerate last week, a trend that is expected to continue for the next few weeks, as seasonal patterns take hold, according to Black Book's July 8 Market Insights report.
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