The Used Retail Active Listing Volume Index currently sits at 1.01 points, above the 1.00 mark for the first time this year.
All but one of the nine car segments decreased last week.
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%.
Analysts predict downward shift over the last two months will continue.
Declines continued throughout the entire market last week, with the exception of one segment, Sporty Car, which was up only +0.04%.
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.
