McLEAN, Va. -

As gas prices continue to rise at a steady pace, it seems consumers are taking note and turning away from larger gas guzzlers — a trend that is showing in the lanes.

Out of the segments NADA Used Car Guide tracks, the luxury utility and large SUV segments are expected to see the biggest drops in wholesale prices this week, falling 1.4 percent ($350) and 1.3 percent ($300), respectively.

And the luxury car segment is also expected to see triple digit declines, around 0.4 percent or $100.

The two-week average rate of depreciation for the luxury utility segment also saw the biggest drop at 1.7 percent, NADA UCG shared.

And as gas prices continue to tick up, rising 14 cents from $3.51 to $3.65 the past week (according to Energy Information Administration data), compact cars have halted their wholesale price slide seen earlier this summer.

The compact car segment is expected to remain flat over the course of the current week, NADA UCG noted.

And the compact utility, midsize car, and midsize utility segments are all expected to only drop by a slight $25 over the course of the current week.

On the other hand, both the large pickup and midsize van segments are expected to see slight increases over the course of the current week, each is expected to rise by a slight 0.4 percent, NADA UCG concluded.

Four- and two-week AuctionNet wholesale average prices are created by collecting all AuctionNet records for vehicles  up to five years of age for a specified period of time.  Prices are then adjusted for changes in mileage and mix.

Current week prices are based on NADA’s proprietary used vehicle value model which includes assumptions for new vehicle prices, used vehicle supply, gasoline prices, and other economic factors.

 

NADA Segment Average AuctionNet® Wholesale Price 2-Week v. Current
4-Week Average 2-Week Average Current Week % Change $ Change
Compact Car $10,250 $10,275 $10,275 0.0% $0
Compact Utility $13,875 $13,950 $13,925 -0.2% ($25)
Large Pickup $18,125 $18,275 $18,350 0.4% $75
Large SUV $23,175 $23,025 $22,725 -1.3% ($300)
Luxury Car $22,900 $22,825 $22,725 -0.4% ($100)
Luxury Utility $25,675 $25,250 $24,900 -1.4% ($350)
Mid-Size Car $12,225 $12,125 $12,100 -0.2% ($25)
Mid-Size Utility $16,725 $16,775 $16,750 -0.1% ($25)
Mid-Size Van $13,525 $13,325 $13,375 0.4% $50