LAWRENCEVILLE, Ga. -

Evidently, dealers are not rushing to the lanes to acquire inventory like consumers are hurrying to retail stores and websites to purchase holiday gifts.

Multiple Black Book representatives stationed at sales noticed lighter buying activity even as analysts spotted wholesale prices falling at rapid paces. Black Book executive vice president of operations Anil Goyal elaborated about the conditions in the latest installment of the Market Insights report.

“Steeper decline of used-vehicle values continued into December,” Goyal said in the report. “Average weekly depreciation in the last eight weeks is over three times the average weekly depreciation seen year-to-date.”

Looking first at car segment, Black Book reported that its volume-weighted data showed that overall car segment values decreased by 1.04% last week. That figure topped the previous four-week average, which was 0.96%

Among cars, analysts said values of compact cars and sporty cars declined the most, sliding by 1.38% and 1.23%, respectively.

Meanwhile, in the truck world, Black Book determined via its volume-weighted data that overall truck segment value (including pickups, SUVs, and vans) decreased by 1.18% last week. That amount marked a significant jump from the four-week average drop of 0.84%.

Analysts indicated values of minivans dropped the most, softening by 1.65%.

Whether it was frigid outside or still somewhat pleasant, two of Black Book’s representatives mentioned soft dealer bidding during sales they witnessed.

First originating from Florida, “Attendance both in the lanes and online was lighter than usual. Prices were down across the board on passenger cars, trucks and SUVs.”

And then out of Michigan, “You would think that the dealers would now be aggressively purchasing vehicles after the recent sharp drop in values, but that is not the case.”

Black Book closed by sharing comments from an auction owner in Ohio, who might have summed up the entire situation.

“Trucks and SUVs are picking up steam as snow is falling. Our sales percentages typically drop slightly during this time period because we have some sellers and buyers sitting out in anticipation of the big tax push early next year,” the auction owner said.

“Our biggest competition for the next few months will be Mother Nature,” the owner added.