LAWRENCEVILLE, Ga.–In what is not a good sign for used vehicle values, activity at auto auctions is slowing, revealing a large supply of used cars and trucks on dealer lots.
Black Book reported that this past week the company has seen an increase in slow and no-sales days at auctions across the country.
That news comes at the same time, as CUToday.info has previously reported, interest in small cars is down as their numbers on car lots has increased in the past year.
“Small cars continue to experience higher depreciation levels,” said Anil Goyal, senior vice president of automotive valuation and analytics. “Sporty cars have shown high declines in the last four weeks, in line with the seasonal trend.”
Volume weighted, overall car segment values decreased by 0.57% last week, lower than the depreciation rate of 0.72% seen in the previous four weeks, Black Book noted.