With Labor Day passing this past Monday, Black Book’s Ricky Beggs opted to take wider look at the wholesale market. Instead of examining just last week. Beggs reviewed activity from Aug. 1 through Sept. 1.

“The used market is continuing to adjust. This is especially true for the one- and two-year old used models, making room in values for the arrival of the 2012s. This year, at least not yet, the dealers don’t have to pack cars on the lot due to an overabundance of carry over 2011s,” the Black Book managing editor explained during his weekly video commentary “Beggs on the Used Car Market.”

As a result, Beggs discovered the overall market has moved downward 1.4 percent for 2010 used models and slightly less — 1.1 percent — for 2008 models.

“Throughout the month we have reported that the used 2010s and 2011s were the toughest market in current retention as they are adjusting downward as to not compete pricewise with the new 2012s and incentive laden carryover 2011s,” Beggs surmised.

Black Book indicated the four 2010 individual models getting the largest and most regular downward adjustments ranged from 6.9 percent to 5.66 percent.

Beggs said an interesting note is that these adjustments came from four different segment types — compact crossovers, entry level cars, entry midsize cars and upper midsize cars.

Editors found models that increased the most month-over-month were made up of luxury level cars and compact crossovers with the largest increases ranging from 2.12 percent to 3.6 percent.

Beggs also pointed out the overall August change for the 2010 models was a drop of 1.4 percent.

“The 2010s continue to be a good alternative form of transportation for those who can afford, and might possibly have been a new-car buyer,” Beggs surmised.

“There are still some very nice, low mileage 2010s as replacements for a new model, but don’t expect it to come from rental turn-ins,” he added.

Looking at the 2008 models, Black Book noticed the top five declining models month-over-month all came from different segments, as well. This contingent included compact crossovers, midsize pickups, entry level cars, near luxury cars and subcompact cars.

The declines for these 2008 segments ranged from 7.09 percent to 4.62 percent.

“While the percentage of change was larger than the 2010 models, the dollar amount on the 2008s was less on all but one of the top movers from the 2010 model list,” Beggs indicated.

“Some of the movement on models increasing was greater than the 2010s and ranged from 4.31 percent to 2.11 percent,” Beggs continued, adding that segment types that posted increases were full-size pickups and full-size SUVs.

“An interesting note as to the strength of the market over a slightly longer period, year over year, is that for both 2010 and 2008 models there were six segment types that actually went up in value,” Beggs went on to say.

Another market element Beggs regularly shares is the comments editors and survey personnel gather from dealers. Beggs said the most consistent comment revolved around the number of no-sales on the lanes

“Some comments were more specific in giving a reason for the no-sale pattern, such as the ‘off-rental with higher miles is not getting the job done,’” Beggs shared.

“The other more pointed comment regarding no sales was related to the late-model cars having to back down due to another model year coming into the market and it being necessary to have a greater price difference between the two,” he continued.

“Another interesting comment related to an in-the-lane bidder saying the Internet bidding was more aggressive, especially on the truly extra-clean cars,” Beggs also noted.

“Even as the prices have been steadily moving down over the past couple of months, I am not surprised that most dealers will continue to comment about prices being too high,” he went on to say. “I must admit no matter the market, we are never going to hear dealers say ‘cars are too cheap.’”

With Labor Day marking the end of summer and students back in school, Beggs described how this point on the calendar is a challenging one for Black Book.

“As we gather the market data, attend the physical auctions and watch others online each day, it has been one of the more challenging weeks to make the call on what to adjust,” Beggs acknowledged. “What makes it so tough this week? I think it is a combination of the last week of the month, where the typical buying for inventory slacks off, and coupled with a major holiday, the market is just not as active or aggressive as you would hope for.”

Along with their usual chores, Beggs highlighted that Black Book editors participated in several manufacturer model presentations, attended physical auctions and watched several online auctions this past week.

“All of our efforts are focused on providing each of you the most market reflective accurate values in a timely manner — which is every day — because in times like these you can’t afford to be wrong,” Beggs emphasized.

“We welcome your comments about the market and how we are serving your needs. We look forward to seeing you on the auction lanes,” Beggs concluded.

Beggs’ videos can be seen here.