The month of February had a spike in wholesale car and truck prices that haven’t been seen since May 2022.
Wholesale prices started in an upward trajectory in the first week of February, with a 0.14% increase. And following that week, prices spiked another 0.21%.
Truck and SUV Wholesale Prices
For the truck and SUV segment, the market gained 0.11% the week of February 12, and another 0.18% the following week, according to Black Book’s Market Insights.
Out of the 13 truck segments, 11 saw an increase in the last week of February.
Plus, for the first time in 36 weeks, full-size pickup trucks saw an increase in wholesale price, with a 0.04% gain in the last full week in February.
There was also a slight increase in auction inventory in February that didn’t show in January.
As wholesale prices and sales rates continue growing, Black Book analysts expect the strong wholesale momentum to also continue into March.
March's report is now available here.