Wholesale Market Declines

By Staff Writer August 22, 2023 684
According to Black Book all nine Car segments decreased last week, with seven of the nine reporting declines exceeding 1%. According to Black Book all nine Car segments decreased last week, with seven of the nine reporting declines exceeding 1%.

The wholesale market continued to experience record declines for a third consecutive week with prices in some mainstream segments decreasing by more than 2%, according to Black Book Weekly Market Insights released on Aug. 22. On another hand, analysts have yet to see any meaningful decrease in used retail listed prices.

  • On a volume-weighted basis, the overall Car segment decreased -1.73%. For reference, in the previous week, cars decreased by -1.35%. This decline exceeds the largest single week depreciation experienced at the onset of the pandemic of -1.40%.
  • The 0-to-2-year-old Car segments were down -1.20% and 8-to-16-year-old Cars declined -1.90%.
  • All nine Car segments decreased last week, with seven of the nine reporting declines exceeding 1%.
  • Compact (-2.51%), Mid-Size (-2.16%), and Full-Size (-2.15%) Cars reported declines exceeding 2%. This marks the third straight week of single week depreciation exceeding 2% for the Compact Car segment.
  • Premium Sporty and Prestige Luxury Car segments continue to experience typical seasonal depreciation.
  • The volume-weighted, overall Truck segment decreased -1.43%, which is consistent with depreciation seen the prior week, of -1.49%.
  • The 0-to-2-year-old models declined -1.20% last week, while the 8-to-16-year-olds declined -1.10%.
  • All thirteen Truck segments declined last week, and eleven of the segments had declines greater than 1%.
  • Minivan (-2.15%) was the only Truck segment to drop by more than 2%. Despite being a large decline, this is still less than some of the declines last year and at the onset of the pandemic that were as large as -2.50%.
  • The Small Pickup (-0.74%) segment had smaller depreciation than the larger Full-Size Pickup segment (-1.34%).
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Last modified on Tuesday, 29 August 2023 09:43