The wholesale value decline for both trucks and cars accelerated last week, according to Black Book managing editor Ricky Beggs, who spotted the steepest drop-off for truck values in almost a year.

What’s more, last week marked the sixth straight time that all 10 car segments declined in price, he noted in the latest “Beggs on the Used Car Market” video report.

Beggs said that the past week mirrored that of a late-fall wholesale market.

“As we look at the percentage of adjustments that were increases in value this past week, they match up with the levels from late October and November 2010, definitely a late-fall seasonal market,” he noted.

Beggs went on to note that Black Book editors found the overall wholesale market to largely be “hit or miss.” There was stability in some vehicle categories, while some segments continued to show seasonal adjustments.

“More directly, the hesitancy of the bidders to step up on the later-model 2009, 2010 and the 2011 models continued at an increased level,” Beggs continued. “Where once the strongest market was the vehicles in the $5,000 to $6,000 range, that then moved to the $6,000 to $8,000 range and has now moved to the
$8,000 to almost $10,000 price level of vehicles.”

Moving along to break the market down by segment, the car segment showing the largest drop-off was the premium sporty car segment (down $67). The upper-midsize car segment (down $65) was next. Full-size cars were down $17, the slightest decline of the 10 car segments.

Overall, cars were off $46.

Meanwhile, trucks were down $63. The last time the decline in truck values was this large was the week ending Sept. 24, 2010.

“The truck segments, for the second consecutive week, had one segment with a positive change for the week, the midsize pickups up by $8,” Beggs stated.

Full-size crossovers were off $132, and luxury SUVs dipped $107. Compact pickups dipped just $19, showing the most moderate decline.

Offering some more overall wholesale commentary, Beggs pointed out: “A pattern we have seen this past week is where more clean condition values have been adjusted than average condition. This past week at 4.6 percent more, the week ending Aug. 19 at 10 percent more and the previous week ending Aug. 12 at a whopping 29 percent more is a sign that the previously super strong, truly clean condition vehicles are requiring more attention,” he continued. “This is representative of the demand being focused on lower price, not necessarily on solid vehicle value.”

Continuing on to spotlight a retail trend, Beggs emphasized that used- and new-vehicle pent-up demand is abundant, but that hasn’t been reflected in sales.

“Just as many dealers are telling us of their uncertainty regarding potential increases of incentives on the new car market which will ultimately affect the late-model used cars, consumers are unsure of job and economic conditions, which are holding down their confidence levels regarding any significant and not absolutely necessary purchases, of which cars, boats, RVs, and motorcycles fit,” Beggs noted.