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REDWOOD CITY, Calif. — Though still stronger for the most part on a year-over-year basis, the sequential weakening in wholesale prices became more evident in July, as the month-over-month decline became steeper, according to OPENLANE.

The company's U.S. Market Index for July was 115, compared with 118 in June and 119 in May.

"Overall weekly U.S. auction prices decreased 3 percentage points in July versus (the) prior month, continuing to indicate emerging pricing weakness," officials noted.

"Pricing for all body styles declined in July versus (the) prior month, but still represented year-over-year gains with the exception of trucks," they added.

Specifically, cars finished the month down 3 percentage points compared to the month-ago level.

Minivans were off 2 percentage points from June, while SUVs dipped 4 percentage points.

Showing the heaviest price decline from a month ago were trucks, which were down 17 percentage points.

Moving on to dealer interest, cars were down "slightly" from June. However, on a year-over-year basis, they climbed 6 percentage points.

As for minivans, there was still a "pronounced upswing" in interest for this segment. Dealer interest improved 31 percentage points month-over-month and 61 percentage points year-over-year.

SUVs remained relatively static sequentially, as dealer interest was up 1 percentage point from June. However, by the end of the month, it was off 11 percentage points on a year-over-year basis.

Finally, trucks showed a 3-percentage-point decline from June and an 11-percentage-point dip from the year-ago period.