LAWRENCEVILLE, Ga. -

The softening of wholesale prices has accelerated, according to the latest Black Book Market Insights report.

Analysts spotted decreases a week ago significantly higher than the average seen during the previous four weeks for both cars and trucks.

“Used-vehicle market strength is waning as depreciation rates increased week over week,” Black executive vice president of operations Anil Goyal said

“Auctions reported that it was harder to receive increased bids,” Goyal added in the latest report.

Volume-weighted, Black Book determined that overall car segment values dropped by 0.39% last week. That’s more than double the four-week average that analysts pegged at 0.16%

Among cars, analysts found that values of midsize cars declined the most, sliding by 0.63% or $56.

Again volume-weighted, Black Book reported that overall truck segment values (including pickups, SUVs, and vans) softened by 0.37% last week. During the previous four-week stretch, analysts pinpointed the average drop at 0.19%.

In the truck space, Black Book found that values of small pickups and compact vans declined the most, decreasing by 0.70% and 0.63%, respectively.

Moving along to what Black Book representatives at nearly 60 sales nationwide observed, the anecdotes supported the pricing metrics analysts computed.

An auctioneer in Illinois told Black Book’s lane watcher, “Similar to last week, prices are trending down.”

An auction general manager in North Carolina added, “Our auction is still selling around 60% of the vehicles offered, which is pretty good for September. We are experiencing more challenges week to week in order to keep those percentages at those numbers.”

Black Book’s representative in Ohio reported, “More no-sales, more sales with a call and harder to receive bids today.”

And finally out in Nevada, a sale unfolded similarly with the Black Book representative noting, “The market has softened. Some dealers seemed to be holding back for more money, but they did sell the higher mileage units.”