7/02/2024 Weekly Market Updates

7/02/2024 Market Update

Here is a quick recap of industry related headlines over the last week:

• The market depreciation rate continues to surpass pre-pandemic seasonal trends, which averaged less than a quarter percent per week.
• Currently, the rate of depreciation has consistently hovered around half a percent per week throughout most of June.
• On a volume-weighted basis, the overall Car segment decreased -0.53%. For reference, in the previous week, cars decreased -0.62%.
• In the last week of June, the auction conversion rate peaked at 57%, marking the highest rate achieved for the month.
• The estimated Used Retail Days-to-Turn is rising and is now at 45 days.

Read this week’s report to find out more