Black Book: Wholesale Market Declines

By Staff Writer September 06, 2023 780

The market continues to depreciate at an accelerated rate, despite increased auction activity last week, according to Black Book’s Weekly Market Update. Dealers continue to speculate on the potential UAW strike that could cost the industry billions and increase demand for used vehicles.

  • On a volume-weighted basis, the overall Car segment decreased -1.44%. For reference, in the previous week, cars decreased by -0.83%.
  • The 0-to-2-year-old Car segments were down -0.94% and 8-to-16-year-old Cars declined -1.57%.
  • Eight of the nine Car segments decreased last week, and seven of those had declines exceeding 1%.
  • Premium Sporty Car increased +0.70%, compared with the prior week’s increase of +0.46%. The increases continue to be driven by the strength of the prior generation Chevrolet Corvette by collectors.
  • Mid-Size Car had the largest decline last week, down -2.10%.
  • Compact Cars continue to have above normal depreciation, down -1.29% last week, but the rate of depreciation is slowing from the highs that exceeded 2% the first three weeks of August.
  • The volume-weighted, overall Truck segment decreased -1.38%, which is much more than the depreciation seen the prior week, of -0.87%.
  • The 0-to-2-year-old models declined -1.00% last week, while the 8-to-16-year-olds declined -1.26%.
  • All thirteen Truck segments declined last week and all of those segments reported declines greater than 1%.
  • The Full-Size Luxury Crossover/SUV segment had the largest decline at -1.99%, setting a record as the largest single week decline for the segment.
  • The Small Pickup segment saw increased depreciation last week, down -1.85% compared with the prior week’s drop of -0.62%.
  • Full-Size Vans had a large drop, with a decline of -1.39%, just shy of the record drop from December 2019 of -1.45%.
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Last modified on Tuesday, 12 September 2023 10:58