Vehicle Market Report: June 2023

While wholesale vehicle prices in March and April were positive, they started to decline in May.  

The first week of June saw a 0.31%. decline The level of depreciation exceeded pre-COVID norms for this time of year of -0.22%. The only segments that saw an increase were Sporty Car (0.38%) and Full-Size Trucks (0.06%).

The decline continued into mid-June. In comparison to pre-pandemic, the declines are only slightly higher than what is typical for this time of year. The third week in June marked the ninth consecutive week of declines.

As for the last week of June, declines across all segments with the overall market rate of weekly depreciation slowly increasing each week.

Truck Wholesale Prices

At the beginning of June, the volume-weighted, overall Truck segment experienced a decrease of -0.34%, matching the decline from the previous week of -0.34%, according to Black Book.

All 13 Truck segments reported a decrease in value during that period. Notably, the Minivans segment experienced consecutive increases for 15 weeks but finally showed signs of softening in the last two weeks.

The segment saw a minimal decline of -0.002% last week, following a similarly small decline of -0.02% in the prior week.

On the other hand, the Mid-Size Luxury Crossover segment reported the largest decline among the Truck segments, with a drop of -0.73%.

Last Week of June

For the last week of June, the overall Truck segment experienced a volume-weighted decrease of -0.41%, maintaining a consistent trend from the previous week's decline of -0.37%.

The 0-to-2-year-old Truck segments saw a smaller decline of -0.40%, while the 8-to-16-year-old segments experienced a decrease of -0.33%.

Across the board, all 13 Truck segments reported a decrease in value.

Compact luxury Crossovers and Compact Vans recorded the largest declines among specific segments, with drops of -0.77% and -0.76%, respectively.

Interestingly, both segments also saw an increase in depreciation compared to the previous week, with Crossovers down by -0.42% and Vans down by -0.35%.

On the other hand, Full-Size Vans demonstrated the smallest decline, with a drop of just -0.17%. This marks the segment's smallest weekly change since the first week of May.