While depreciation is “roughly double” what Black Book often sees in July, analysts are also reporting that the auction conversion rate is staying near 60% so far this month.

Those are the primary findings of Market Insights, which Black Book released on Tuesday. Analysts highlighted the wholesale segment sustained a 0.55% overall value decrease and last week’s auction conversion rate came in at 59%.

“Although the overall market depreciation rate is exceeding pre- pandemic seasonal norms, there are encouraging signs of strength, with sales rates remaining robust nationwide,” Black Book said in the report. “Throughout most of July, the weekly depreciation rate has hovered around 0.50%, roughly double the typical 0.25% seen during this period in a typical July market.

“During the first four weeks of July, the overall truck and car segments experienced consistent depreciation,” analysts continued. “That said, auction conversion rates have remained elevated for most of the year. In July, these rates have steadily averaged between 58% and 59% so far, with one week remaining. Currently, there are no indications of a slowdown for the month.”

All 22 vehicle segments Black Book tracks sustain value declines last week. Among the notable moves:

—Subcompact cars experienced another significant price decrease last week, dropping by 0.92%. During the past 12 weeks, analysts indicated the segment has posted an average weekly depreciation of 0.82%.

—Values for compact crossovers slid by another 0.84% last week, representing the segment’s largest single-week depreciation since January, according to Black Book tracking. Analysts said prices for these units have dropped by an average of 0.50% during the past 11 weeks. That’s quite the reversal from what Black Book watched earlier in the year when prices for compact crossovers rose 10 straight weeks of gains with an average weekly increase of 0.49%.

—While the vehicles are built to handle roads with lots of twists and turns, Black Book added that prices for premium sporty cars have “remained remarkably stable,” recording an average market change of just 0.002% over the 12 weeks

With the end of July straight ahead, Black Book reiterated, “As always, our team of analysts are focused on the keeping their eyes on the market for developing trends and gathering insight.”