Cars and Truck Segment Improvements Reflect Strength in Wholesale Values
The second week of June continued a story of rebounding wholesale prices, with volume-weighted overall car and truck segments both showing gains for a third week in a row, gaining 0.62% overall, Black Book reported.
The second week of June continued a story of rebounding wholesale prices, with volume-weighted overall car and truck segments both showing gains for a third week in a row, gaining 0.62% overall, Black Book reported.
Volume-weighted, the overall car segments increased by 0.88% (compared to 0.16% the prior week) and the overall trucks and SUV segments increased again this past week at 0.52% (compared to 0.08% the prior week).
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Graphic: Black Book
Looking closely at segments, all car segments experienced increases, except for sub-compact cars, which have been on a decline since the end of March. For the past four weeks, the compact car segment has had the largest car segment increases, but this past week the top spot was taken by the sporty car segment with a 1.65% increase.
For the overall truck segment values increased by 0.52% last week with all segments increasing except full-size vans. The minivan segment led the increases with a strong rebound of 1.65% after 11 consecutive weeks of declines.
Following Hertz, the company is the second global car rental conglomerate to sustain sizable losses due to lower customer demand and usage of electric rental cars.