Black Book reflected on the auction scene a year ago when explaining what analysts are now seeing as the industry again approaches Labor Day weekend.

To set the stage, Black Book reported overall wholesale values ticked 0.23% lower while prices for cars dropped by 0.27% and values for trucks declined by 0.21%.

But according to the newest installment of Market Insights, prices for full-size trucks nudged up 0.06% and values for small pickups edged 0.04% higher.

“Last year, the market stabilized and saw four consecutive weeks of rising wholesale values around Labor Day. This year, while we haven’t seen overall market appreciation yet, depreciation is slowing, and some segments are even reporting value increases,” analysts said in the report when mentioning full-size and small pickups.

Black Book then asked, “These upward moves raise the question: are more segments poised to turn positive in the weeks ahead?

“Nationwide, conversion rates remain exceptionally strong, consistently exceeding 60%,” Black Book continued. “Momentum across the market is further supported by elevated auction conversion rates. So far in August, conversions have held strong in the 60–64% range, signaling consistent buyer demand.”

And buying isn’t just happening in the lanes. Black Book said the retail scene improved last week, too, as the estimated used retail days to turn is now at roughly 40 days.

One other note from the wholesale side of the business. Black Book reported prices for sub-compact crossovers declined another 0.44% last week, extending a 14-week streak of consistent depreciation that has averaged 0.58% per week.

With the college football season set to kick off in full during the holiday weekend and perhaps some last trips to the beach for the summer, 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.”