Dealers who might be accustomed to seeing wholesale prices cool a bit when the outside temperatures are their warmest likely are leaving the lanes disappointed.
The latest Black Book Market Insights report again detailed how wholesale prices are holding at higher levels this summer.
In fact, overall car segment values increased by 0.06% last week, according to Black Book’s volume-weighted data. Analysts noted that wholesale values for cars softened by 0.14% on average during the prior four-week period.
Going against the overall trend, Black Book reported that values of luxury cars decreased the most, declining by 0.46% or $85.
Meanwhile over on the truck side, analysts found that overall values (including pickups, SUVs, and vans) dropped by 0.19% last week. That reading was a bit larger than four-week average dip of 0.10%.
Among trucks, Black Book indicated values of compact vans declined the most, ticking down by 0.51% or $47.
“As opposed to the typical weakness seen in the summer, the market is experiencing sustained strength. Mainstream sedans were particularly strong last week,” Black Book executive vice president of operations Anil Goyal said in the report.
Black Book began its rundown of anecdotes the nearly 60 sales representatives attend each week with another mention of summertime conditions at the auction. Here are those observations:
— From Nevada: “Trucks and SUVs were in high demand today. Dealers here remain upbeat even with the dreadfully hot weather.”
— From Georgia: “They sold almost everything in many lanes here. Passenger cars, trucks and SUVs under $12,000 sold the best in any lane.”
— From Michigan: “Consignment was down quite a bit today. One segment that stood out today was the 3- or 4-year-old full-size SUVs.”
— From Florida: “The auction results remain steady. The units with good history sold. However, some dealers are starting to complain about a lack of retail traffic at their store.”