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.
Truck segments reported an accelerated rate of depreciation and the largest single week decline since late January.
Ten of the 13 truck segments reported decreases last week.
Auction conversion rates remained stable; the overall market continues to trend into negative territory, which leaves us wondering if there will be any room for an increase before the Memorial Day holiday.
The Estimated Average Weekly Sales Rate dropped to 49% last week.
The general mood from those we’ve talked to continues to be that we will have a few more months of strength, but what we have been observing in a variety of auctions leads us to believe that this may not be the case.
The Used Retail Active Listing Volume Index reverted back to one at the start of the year and now sits at 0.95 points.
Eleven of the 13 truck segments reported increases last week.
The used retail active listing volume index reverted back to one at the start of 2023. Currently, the index sits at 0.95 points.
The market continues to outperform what's traditionally seen this time of year, with the weekly rate of gain taking us back to 2021.
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