Traditionally, values would be declining this time of year, but the lack of inventory continues to be the most common sentiment for the increased auction activity pushing values up.
Wholesale prices continued to gain momentum, with all segments reporting week-over-week increases last week.
The seasonally adjusted Retention Index increased to 169.5 points, hitting another record this year.
As we move into the Fall season, wholesale prices began to show a positive movement once again and reached the highest point of the year last week.
The market continued to make gains this past week, marking the fourth consecutive week of overall wholesale value increases.
Traditionally, as we move past Labor Day, values begin to decline, with the largest portion of the yearly depreciation typically occurring in the fourth quarter. However, that is not the case this year, we’ve now had four consecutive weeks of overall market increases in wholesale values.
Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
On a volume-weighted basis, the overall Car segment increased +0.18%. For reference, the previous week cars increased by +0.06%.
The seasonally adjusted Retention Index increased to 165.7 points, barely missing another record.
The rate of depreciation has been slowing in recent weeks and this past week, the overall Car segment week-over-week change crossed back into positive territory, with six out of the nine Car segments reporting gains.
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