Auto Market Update Week Ending November 25th, 2023

As we reflect on the week ending November 25th, 2023, which encompassed the Thanksgiving holiday, the auto market displayed notable trends despite the shortened work week. A consistent theme emerged as the market experienced significant declines, extending the trend from the preceding weeks.

Auction attendance and sales rates also witnessed a downturn, underlining the impact of the holiday season.

Auto Market Update Week Ending Nov 25, 2023 (PDF)

Wholesale Prices Overview

Market Performance:

  This Week Last Week 2017-2019 Average (Same Week)
Car segments -1.82% -1.35% -0.74%
Truck & SUV segments -1.35% -1.53% -0.67%
Market -1.49% -1.48% -0.70%
Week Over Week Wholesale Price Changes Nov 29 2023
Week Over Week Wholesale Price Changes

Car Segments Analysis

Volume-Weighted Changes:

  • Overall Car Segment: -1.82% (This Week) | -1.35% (Last Week)
  • 0-to-2-year-old Cars: -1.52%
  • 8-to-16-year-old Cars: -2.10%

Segment Highlights:

  • All nine Car segments saw declines.
  • Notable drops in Compact Car (-3.84%) and Sub-Compact Car (-1.80%) segments.
  • Luxury Car segments remained closer to typical seasonal trends.
Car Segments Weekly Wholesale Price Changes nov 29 2023
Car Segments

Truck / SUV Segment Analysis

Volume-Weighted Changes:

  • Overall Truck Segment: -1.35% (This Week) | -1.53% (Last Week)
  • 0-to-2-year-old Trucks: -1.01%
  • 8-to-16-year-old Trucks: -1.37%

Segment Highlights:

  • All thirteen Truck segments reported declines.
  • Significant corrections in Compact (-4.25%) and Full-Size (-3.19%) Vans.
  • Full-size crossover segments experienced notable declines.
Truck Segments Weekly Wholesale Price Changes nov 29 2023
Truck Segments

Used Retail and Wholesale Trends

Used Retail:

  • The Used Retail Active Listing Volume Index: 1.02 points.
Used Retail Listing Volume Index Nov 29 2023
Used Retail Listing Volume Index

Wholesale Market:

  • Despite the holiday, the wholesale market continued its decline.
  • With the observed closures on Thursday and Friday, the impact on the market was palpable.
  • The estimated Average Weekly Sales Rate dropped to 53%.
Estimated Average Weekly Sales Rate at US Auctions
Estimated Average Weekly Sales Rate at US Auctions

 Looking Ahead

As we move into the final weeks of the year, the industry awaits to see whether the market will witness further declines or stabilize. The dynamics of the past few weeks raise intriguing questions about the trajectory of the auto market as we approach the year-end. Whether the trends persist or shift, the next few weeks promise to be pivotal for industry observers and stakeholders.

Wishing everyone a delightful post-Thanksgiving period and anticipating what the coming weeks hold for the ever-evolving auto market.