Wholesale Price Changes by Segment |
August Recap |
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In August 2024, wholesale prices stabilized after earlier volatility, with depreciation rates lower than in July. Compact cars, crossovers, minivans, and small pickups performed well, while luxury SUVs saw declines. As the month ended, truck values rose, and car depreciation slowed to a typical seasonal pace. |
Car Segment |
The car segment experienced overall depreciation, though the rate of decline lessened as the month progressed. Compact Cars, particularly those aged 0-to-2 years, saw consistent gains, with four consecutive weeks of increases by the end of August. The Mid-Size Car segment also showed growth early in the month, while Prestige Luxury and Luxury Cars experienced the most significant declines throughout the period. |
Truck & SUV Segment |
Early in the month, overall depreciation was steady, with all segments declining. However, by mid-August, the rate of decline slowed, and some segments, like Small Pickups and newer Minivans, began to show increases. By the end of the month, the overall Truck segment saw a slight increase in value, with eight of the thirteen segments reporting gains, although Full-Size Luxury Crossovers/SUVs continued to face significant depreciation. |
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Wholesale Inventory |
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The auction conversion rate remained consistently high, fluctuating slightly but reaching 61% by the end of the month. Depreciation slowed, with some segments even seeing positive gains, particularly in the truck market. Although inventory levels decreased, the overall market appeared to be stabilizing, with potential signs of improvement. |
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Used Retail Listing |
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Throughout August, the Used Retail Active Listing Volume Index remained stable, reflecting inventory levels at independent and franchised dealerships across the U.S. The estimated Used Retail Days-to-Turn gradually decreased throughout the month, starting at around 50 days and ending at approximately 44 days, indicating a quicker turnover of used vehicles as the month progressed. |
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| View the Latest Used Retail Listings |
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Black Book’s Used Vehicle Retention Index Decreased In July |
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“In July, the Black Book Retention Index continued its decline that began in April, driven by greater-than-expected depreciation in wholesale values,” stated Laura Wehunt, Vice President of Analytics at Black Book. “Although auction conversion rates were strong, staying in the high-50-percent range, the retail market saw an increase in days to turn, starting at 45 days at the beginning of the month and rising to 52 days by the end.” |
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