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The compact car segment had the largest decline among cars, though it was still less than the prior week’s decline of 0.94%.
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The first week of July, there was a slight increase in auction volume and more repossessions hitting the lanes.
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The Used Retail Active Listing Volume Index currently sits at 1.01 points, above the 1.00 mark for the first time this year.
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All but one of the nine car segments decreased last week.
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Sub-Compact Car reported the largest drop last week, down -0.75%. The prior week, the segment also had the largest decline for cars, with a decrease of -0.89%.
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Analysts predict downward shift over the last two months will continue.
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Declines continued throughout the entire market last week, with the exception of one segment, Sporty Car, which was up only +0.04%.
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Auction conversion rates increased for the first time in four weeks. More buyers were in the lanes and online last week than in prior months.
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Truck segments reported an accelerated rate of depreciation and the largest single week decline since late January.
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