LAWRENCEVILLE, Ga. -

While some dealers might be using some of their available screen time to join the virtual version of NADA Show 2021, managers who are still on their devices tasked with finding used-vehicle inventory continue to confront rising wholesale prices.

And the newest Black Book Market Insights detailed how buying dealers are dipping deeper into their floorplans as a result.

Black Book said its overall volume-weighted data showed prices ticked up 0.14% last week compared to the previous week. The increase for cars (up 0.23%) was a bit stronger than trucks (up 0.9%).

“After a small dip two weeks ago in sales rates due to sellers’ firmness on floors, the buyers returned to buying last week and stepped up to the higher prices,” analysts said in the latest report released on Tuesday, which coincided with the National Automobile Dealers Association beginning its online conference.

“The bidding activity was strong with the only exception being in the Northeastern region where weather appeared to slow the demand,” Black Book continued. “The West Coast also continues to be slower to show strength as the stricter restrictions in that region are slowing the rebound in demand that is being seen in other parts of the country.

“We are hearing more each week in the market about reduced inventory in the pipeline for Q1,” analysts went on to say. “With new-car manufacturing facing supply chain struggles due to the microchip shortage, as well as a possible additional round of stimulus, the expectation is that pricing will remain strong throughout Q1 and into Q2.”

Looking closer at the car segment, Black Book noticed units that often turn nicely during tax season moved higher. Analysts said values of compact cars increased for a third week in a row, posting the largest increase in the car segment at 0.77%.

“Sporty cars, both mainstream and premium, continued to show signs of spring with another week of gains,” said analysts, who mentioned values in the sporty car segment rose 0.48% last week while value increases for premium sporty cars slowed but still edged up 0.07% a week ago.

Also of note, Black Book spotted a 0.22% value gain for prestige luxury cars, halting a streak of 22 consecutive weeks of declines.

Over in the truck arena, analysts mentioned values for full-size pickups increased 0.30% last week after rising just 0.09% during the prior week.

“Full-size vans are showing considerable strength as the volume in the segment remains low,” Black Book said.

“The mainstream crossover segments, subcompact and compact, are showing consistent week-over-week gains as this price point fits well into the traditional spring market demand,” analysts added.