Volume-weighted, overall car and truck segments both showed signs of slowing down after 15 consecutive weeks of increases, with the overall market increasing by only 0.03% this past week (compared to 0.27% the prior week), according to Black Book’s recent Market Insights report.
Black Book has integrated its value data into One Auction View, a subscription-based service that provides dealers access to online wholesale auctions in a simplified, aggregated view.
Volume-weighted, overall car and truck segments both showed gains for the thirteenth week increasing 0.52% this week (compared to 0.82% the prior week).
Volume-weighted, overall car and truck segments both showed gains for the eleventh week in a row, increasing 1.08% overall this week (compared to 1.01% the prior week).
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).
Wholesale market prices were strong for the last week of June, and were maintained by federal stimulus, together with still limited used-vehicle inventory.
Tim West, Black Book’s longtime Vice President of North American Auctions, received the Ed Bobit Industry Icon Award, which honors those for their contributions to the remarketing industry.
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.
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.
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.