Fueled in part by tariffs, Black Book summarized April since its latest installment of Market Insights covered the week that included the last day of the month.

As the calendar flipped, analysts watched wholesale prices rise another 0.24% as last week’s auction conversion rate came in at 61%.

“The market continued to see week-over-week increases in wholesale values, although the pace of these gains slowed last week,” Black Book said in the report released on Tuesday. “Despite the moderation compared to the prior two weeks, the scale of these gains remains atypical, as seasonal trends would generally reflect week-over-week declines during this period.

“Last week, we concluded a strong April in the wholesale market. The auction conversion rate averaged 63%, marking the highest rate recorded this year,” analysts continued. “During the first half of April, wholesale values surged at a pace unseen in months.

“While the second half of the month showed a slight slowdown, the market overall performed exceptionally well for this time of year. Notably, the car and truck segments have both shown consistent positive momentum for the past eight weeks,” Black Book went on to say.

For the fourth consecutive week, analysts watched all nine car segments generate increasing values.

Although most segments reported lower appreciation last week compared to the previous week, Black Book pointed out that prices for compact cars less than 2 years old continued to rise, jumping another 1.16%. That move represented the largest single-week value increase for those specific units since late March 2023.

In the truck department, analysts noticed that 12 of the 13 segments posted price increases last week.

Perhaps fueled by families looking for a different vehicle, Black Book reported values for minivans between 8 and 16 years old now have climbed for eight consecutive weeks. The latest increase for those units was 0.76%, marking the largest single-week gain since April 2023.

And prices for newer minivans are jumping even more, with units less than 2 years old spiking by 1.43% last week.