Black Book Reports Decline in Wholesale Market

By Staff Writer May 23, 2024 1199

Black Book reported the overall market experienced an acceleration in the rate of decline last week, with all but two segments reporting a decrease in value.

Although there was some reduction in auction inventory, the volumes being sold by the larger sellers, especially in the OEM lanes, are reminiscent of those seen pre-COVID.

Car Segments

  • On a volume-weighted basis, the overall Car segment decreased -0.09%. For reference, in the previous week, cars decreased -0.01%.
  • The 0-to-2-year-old Car segments were down -0.11% and 8-to-16-year-old Cars increased +0.03%.
  • Two of the nine Car segments increased last week.
  • Last week, the Sporty Car segment extended its upward trend, rising by +0.20%, which represents the eighth consecutive week of gains. On average, the segment has seen a weekly increase of +0.32%.
  • The Sub-Compact Car segment continued to see significant decreases, falling by -0.41% last week. This marks the sixth week in a row of declines for the segment, with an average weekly drop of -0.37%. Although these vehicles are considered “affordable,” the segment witnessed only four weeks of increases in April. In contrast, its larger counterpart, the Compact Car, experienced a streak of seventeen consecutive weeks of growth before seeing a slowdown.

Truck / SUV Segments

  • The volume-weighted, overall Truck segment decreased -0.29% compared to the decline seen the prior week of -0.14%.
  • The 0-to-2-year-old models declined -0.24% on average and the 8-to-16-year-olds decreased by -0.34% on average.
  • Last week saw a decline across all thirteen Truck segments, marking the first instance of universal declines within these segments since mid-January.
  • Full-Size Vans have consistently depreciated over the past seven weeks, with an average weekly decline of -1.00%. Although the Compact Van segment has also been depreciating, it has been doing so at a slower pace. Nevertheless, last week saw an increase in the rate of decline for Compact Vans, falling by -0.62%, a notable increase from the previous week’s decrease of -0.13%.
  • Last week, the Full-Size Crossover/SUV segment saw a -0.29% decrease, marking an end to its ten-week streak of consecutive increases.
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Last modified on Wednesday, 29 May 2024 21:57