Wholesale used vehicles had their best weekly performance in two months, according to Black Book’s Sept. 11 Market Insights report.
Volume-weighted, overall car segment values were down 0.27% last week, compared to 0.36% the previous week. For the truck segment, overall values decreased by 0.15%, compared to 0.25% the previous week.
Prestige luxury and near luxury cars had the weakest showing among cars, with average wholesale values falling by 0.62% and 0.46%, respectively. Full-size cars had the strongest showing, with values flat compared to the previous week.
Among trucks, subcompact crossovers/SUVs saw the highest depreciation, with values falling 0.66% from the week before. Minivans and full-size pickups were the best performing segments, with values rising 0.15%, and 0.01%, respectively.
Black Book attributes this strong week, in part, to effects of Hurricane Harvey.
“Dealers are actively looking to buy inventory and shipping vehicles to the Houston area, anticipating strong demand due to replacement of damaged units,” said Anil Goyal, senior vice president of automotive valuation and analytics at Black Book.