When NADA Used Car Guide provided AuctionNet wholesale average price data to Auto Remarketing last week, all the segments it tracks were expected to experience slight declines by this past Friday.

NADA Used Car Guide officials noted that slowing demand related to seasonality, as well as rapidly falling gasoline prices, are both contributing to wholesale prices softening.

In fact, as the pennies begin to fall off prices at the gas pump, this trend is helping to pressure down used prices for compact cars and midsize cars in the lanes, NADA UCG continued.

The compact car segment was even expected to see slightly bigger drops than in past weeks, predicted to decline 2.3 percent or $225.

This segment continued to follow gas prices down, as the Energy Information Administration data released last week reported the average price of regular grade gasoline (all formulations) fell four cents from $3.57 to $3.53. 

NADA UCG reported that this past week would be the seventh week in a row with a decline in compact car segment prices; gas prices have been falling for 11 weeks now.

And midsize cars weren’t far behind. This segment was expected to see around a 1.8-percent or $225 slide in prices.

Moreover,  luxury cars were also expected to drop 1.0 percent or $225.

Moving on to highlight the light-duty truck side of the industry, officials noted that the midsize utility segment was expected to see the biggest declines last week, falling by 1.4 percent or $250.  

And the large pickup, large SUV, midsize van and luxury utility segments were all expected to drop by less than 0.9 percent apiece. 

And in some perhaps not surprising news, NADA UCG reported that the two-week average rate of depreciation for  the compact car segment saw the biggest drop off at 2.9 percent, followed by the midsize car segment at 2.7 percent. 

Wrapping up this past week’s commentary, officials noted, “The compact utility and midsize utility segments both saw drops to the tune of 2.0 percent apiece.”

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.