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The full-size luxury crossover/SUV segment had the largest decline at 1.99%, setting a record as its largest single-week decline.
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With the large declines in the market, buyers are being more hesitant to pay any extra money for inventory.
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The pace of wholesale price changes picked up last week as inventory and incentives continued to increase.
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After three months of accelerated wholesale price drops, the first week of August brought the largest single-week decline in the overall market since October.
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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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