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The Estimated Average Weekly Sales Rate dropped to 53% last week.
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It was another stable week in the lanes last week. Inventory is still available and consistent, but there has been a noticeable increase of IF sales and no sales.
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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing. Transparent pricing upfront makes the car buying process more enjoyable for customers and allows Black Book to accurately measure retail market trends.
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Repossessions are beginning to show up in the market and with fuel prices returning to a level last seen in February of this year, the Car segment valuations are taking the hardest hit.
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The market continued its descent last week, with the level of decline still exceeding what is typically experienced this time of year.
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Black Book and Fitch Ratings just unveiled their latest joint depreciation report, taking an in-depth look at car and truck segment depreciation trends in 2021, as well as our outlook and forecast for depreciation in 2022.
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Powersports values are declining across the board with one exception as we head into the fall.
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The wholesale market continued its decline last week, with the rate of decline remaining consistent with the past seven weeks.
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The Retention Index continues to decline in August, finishing the month at 184.0 points as consumer demand for used vehicles weakened.
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