GAINESVILLE, Ga. -

Though wholesale prices, overall, are still seeing declines, the drops may be slowing down, according to  the latest “Beggs on the Used Car Market” report.

Guest presenter Tim West — the vice president and North American auction director at Black Book — explained, “As we take a look at the various segments of vehicles, the cars actually improved overall with the average segment change being (negative) $61, the lowest decline in the past 10 weeks all the way back to the week ending August 10.

“For the first time I can remember, without digging too far back in the historical archives of data, the near-luxury cars had the smallest dollar declining amount of only $18,” West added.

And as gas prices remain high, prices in the truck segments may finally be showing the effects of high fuel rates.

“The truck segments, which had an average segment change of (negative) $52 are gradually falling more. This is the first time in the past seven weeks where none of the truck segments had a positive week-over-week change,” West said.

And which wholesale segments remained the most consistent this past week?

The midsize pickups had the best strength with only a $7 decline for the week.

Moreover, a couple of segments used primarily in the service industries stayed relatively flat, as well. The full-size cargo vans and the cargo minivans fell $8 and $14, respectively, West shared.

And he also noted Black Book received a variety of comments from those within the industry, highlighting market conditions across the country.

First, West said: “From the Pennsylvania market the ‘demand seemed to be up,’ while not too far away geographically at an Indiana auction, the feeling was that ‘prices seem to be dropping.’”

Lastly, West shared that a Michigan report felt that there was an unusually higher number of “rougher condition and higher mileage vehicles” being offered.

The video report can be viewed below: