The market continued to see healthy buyer participation, with auction conversion improving to 57%, up one percentage point from the prior week, according to Black Book Market Insights. At the same time, buyers remained selective, with stronger demand for certain newer, premium, and performance vehicles while results were more mixed across EVs and larger SUVs.
Car Segments
- On a volume-weighted basis, the overall Car segment decreased -0.51%. For reference, in the previous week, cars decreased -0.53%.
- The 0-to-2-year-old Car segments were down -0.44% and 8-to-16-year-old Cars decreased -0.41%.
- Only one of the nine Car segments reported an increase last week.
- The 0-to-2-year-old Full-Size Car segment was the lone gainer across all age bands, though it remained an extremely small segment with the Toyota Crown as the only remaining model in production. In contrast, 2-to-8-year-old Full-Size Cars declined – 0.74%, accelerating from the prior week’s more stable -0.28% depreciation.
- Despite elevated fuel prices, the fuel-efficient and budget-friendly Sub-Compact Car segment remained under pressure, with values declining -0.94% last week. The segment has averaged a -0.73% weekly decline over the past twelve weeks.
- The Near Luxury Car segment continued to show resilience in an affordability constrained market, averaging a modest weekly decline of just -0.24% over the past four weeks.
Truck / SUV Segments
- The volume-weighted, overall Truck segment decreased -0.81% compared to the decrease seen the prior week of -0.75%.
- The 0-to-2-year-old models saw an average decrease of -0.62% and the 8-to-16-year-old models experienced an average decrease of -0.77%.
- All thirteen Truck/SUV segments declined last week, with depreciation reported across every segment and age band.
- The 2-to-8-year-old Sub-Compact Crossover segment declined -1.22%, accelerating from its prior four-week average of -0.70% per week and marking its largest single-week decline since the fourth quarter of last year.
- The Minivan segment remained under significant pressure, declining -1.15% last week versus an average weekly decline of -1.67% over the past four weeks. The recent depreciation was primarily driven by increased auction volume, particularly as units that had been delayed from returning to the used market over the summer due to an open recall began entering the lanes. The influx of inventory has added pressure to values.
