Critical Shifts:
- Slower Rate of Depreciation: Wholesale price declines moderated across the market, with overall car values down 0.34% (compared to 0.46% the previous week) and truck/SUV values down 0.53% (compared to 0.61%), indicating a slight stabilization in pricing trends.
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Healthy Demand paired with Selective Bidding: A steady 57% auction conversion rate shows solid buyer participation, though dealers are being highly disciplined—favoring specific conditions, configurations, and high-demand retail inventory over generic late-model units or mainstream crossovers.
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Segment-Specific Vulnerabilities: Pressure remains concentrated in specific categories, highlighted by steep weekly drops in Luxury Cars (-0.90%) and Compact Luxury Crossovers (-0.89%), while rare pockets like 0-to-2-year-old Full-Size Cars (+0.36%) managed gains.
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Wholesale used-vehicle depreciation moderated last week, but prices continued to move lower across both cars and trucks/SUVs. At the same time, auction conversion remained healthy at 57%, indicating dealers and other buyers were still actively participating in the wholesale market.
According to Black Book Market Insights, the overall Car segment declined 0.34%, an improvement from the 0.46% decline recorded the previous week. Trucks/SUVs fell 0.53%, compared with a 0.61% decline the week before.
Black Book said buyer activity remained strong but increasingly selective. Vehicles with desirable configurations, condition and retail appeal continued to attract stronger results, while some mainstream crossovers and late-model units faced greater pricing pressure.
Cars
- The overall Car segment declined 0.34% on a volume-weighted basis. Cars aged 0-to-2 years fell 0.30%, while 8-to-16-year-old cars declined 0.25%.
- The Luxury Car segment posted the largest decline, falling 0.90% for the week — its steepest weekly drop since late October 2025. The 0-to-2-year-old Luxury Car segment declined 0.32%, while 8-to-16-year-old Luxury Cars fell 0.34%.
- The 0-to-2-year-old Full-Size Car segment was the lone car segment to gain, increasing 0.36%.
Trucks and SUVs
- The overall Truck segment declined 0.53%, slightly less than the previous week's 0.61% drop.
- The 0-to-2-year-old Truck/SUV group declined an average of 0.46%, while 8-to-16-year-old models fell 0.41%. All 13 of the 2-to-8-year-old and 8-to-16-year-old Truck segments reported declines.
- The Compact Luxury Crossover/SUV segment was one of the weaker performers, falling 0.89% — its steepest weekly decline since early December. Newer 0-to-2-year-old models declined 0.60%, while 8-to-16-year-old units fell 0.49%.
- The 0-to-2-year-old Minivan segment posted a slight 0.02% gain, while 2-to-8-year-old and 8-to-16-year-old minivans declined 0.01% and 0.11%, respectively.
Bottom Line
The 57% auction conversion rate suggests wholesale demand remains solid, but the uneven price performance shows buyers are being selective. For independent dealers, the market continues to favor vehicles that combine condition, configuration and strong retail demand, while some newer luxury crossovers and other segments are experiencing more wholesale price pressure.
For dealers buying at auction, the latest numbers point to a market where the right vehicle matters more than simply buying newer or cheaper inventory.
