🚗June Market Insights: Wholesale Prices Down, Auction Activity Up

Wholesale Price Changes by Segment 

Car prices in June saw a significant drop across most segments, with depreciation accelerating throughout the month. Subcompact cars were hit the hardest, while sporty and premium sporty cars held steady early on but eventually joined the downward trend. Even older luxury cars weren't spared, with depreciation picking up in the last weeks of June.

Wholesale Inventory

Used Retail Listing

Used retail inventory (Active Listing Volume Index) remained steady throughout June until the last week, when it showed signs of increasing. Days-to-turn also rose slightly, reaching 44 days by June's end.

The 2024 Vehicle Depreciation Report with Fitch Ratings is out!

This report reveals a changing auto market with:

• Strong new car sales but inflated MSRPs.

• Rising used car depreciation, especially for EVs.

• An 18% depreciation rate forecast for 2024.

Used Vehicle Retention Index Decreased In May

“In May, the market took a different turn as Black Book observed a downturn across nearly all of the 22 vehicle segments it monitors, which was reflected in the seasonally adjusted retention index,” stated Laura Wehunt, Vice President of Analytics at Black Book. “Throughout May, the wholesale market largely mirrored the stability typical of a pre-pandemic year across most categories. The exception was the Premium Sporty Car segment, which stood out with a notable seasonally adjusted index increase of 1.4% compared to the previous month. On the other end of the spectrum, the popular Compact and Mid-Size Crossover categories experienced the steepest drops, with each declining by 2.7% from their April figures.”