While President Trump made a pair of proclamations on Tuesday modifying tariffs to reduce “a cumulative effect or ‘stack’” on imported vehicles and parts, Black Book reported earlier in the day about how much previous decisions impacted the wholesale market.

Black Book said wholesale prices rose another 0.63% last week with the auction conversion rate coming in at 63%.

“The wholesale market continues to report gains larger than traditional levels,” Black Book said in its weekly installment of Market Insights.

“Traditionally, this would be the time of year the gains in the market due to the spring/tax season would begin to slow,” analysts continued in the report. “However, with tariffs still in place on imported vehicles and upcoming tariffs on production supplies, the market remains strong. Expectations of rising new-vehicle prices and reduced new-vehicle inventories are likely to further boost demand for used vehicles.”

By the time Black Book distributed its update, Trump traveled to Michigan with his freshly signed proclamations.

In one of them signed on Tuesday, Trump affirmed that, “I determine that the modified system, by linking the ultimate monetary fee imposed on imports of automobile parts to the imports’ use in assembly of automobiles within the United States … will adjust imports of automobiles and automobile parts and more effectively eliminate such imports’ threat to impair national security.

“I find that the modified system will more effectively eliminate the national security threat because it will more quickly reduce reliance on foreign manufacturing and importation of automobiles and automobile parts; strengthen United States vehicle assembly operations by encouraging companies to expand domestic production capacity, which is critical to a strong domestic defense industrial base; shift manufacturing activity into the United States; increase domestic automotive research and development so that American-owned producers can produce cutting-edge technologies that are essential to the United States defense industrial base and our military superiority; create jobs in the automotive industry that increase the number of employees in the domestic automotive industry; and ensure that other benefits of production are concentrated in the United States,” the president affirmed.

In the meantime, dealers still need to sell vehicles, and Black Book reported the estimated used retail days to turn is now at roughly 39 days.

Should managers need to replenish their used-car inventory via the auctions, they’re having to reach deep into floorplans.

Black Book indicated all nine car segments generated increasing values last week with two of the segments posting a gain exceeding 1%.

Analysts noted that prices for full-size car increased 1.21%, the largest single week gain for the segment since May 2021.

“As many manufacturers have exited production of competitors in this segment, the supply continues to dwindle, but demand for quality used sedans has increased due to their affordability,” Black Book said.

And perhaps with some buyers getting ready for summer, Black Book pointed out that prices for sporty cars continued to rise, jumping 1.20% last week after increases of 0.62% and 0.36% during the previous two weeks.

In the truck department, Black Book notices 12 of 13 segments posted value increases last week, led by minivans with a rise of 1.35%

“The full-size pickup segment didn’t see one of the largest increases compared to other segments, but it achieved a significant jump relative to its historical performance with a 0.51% increase,” analysts said. “The last time this segment recorded a gain exceeding half a percent was in November 2021.”