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.
Wholesale values continue to drop for both cars and trucks as the COVID-19 pandemic continues to impact the industry.
Overall car segment values decreased 0.65% last week. Meanwhile, overall truck segment values decreased 0.73%% last week
Overall car segment values increased 0.32% last week and overall truck segment values increased 0.20% last week.
Vehicle values held steady last week, as various luxury segments continued to see positive movement in their week-to-week wholesale values.
Overall car segment values decreased 0.11% last week, compared to a 0.04% gain the week before. Overall truck segment values decreased 0.03% last week, compared to 0.19% the week before.