Dealers likely aren’t walking the auction lanes with the same intensity that United Auto Workers (UAW) are marching on picket lines.

Black Book summarized the latest auction scene on Tuesday, a day after the UAW told 6,800 workers at the Sterling Heights Assembly Plant in Michigan to strike at the facility that builds Stellantis’ best-selling RAM 1500 trucks.

“As the United Auto Workers (UAW) strike continues, the market remains in a state of limbo with dealers still saying it is a ‘wait and see’ situation,” Black Book said in its newest installment of Market Insights. “Overall, the market is depreciating, but the rate of decline is below what is typical for the time of year.”

Black Book indicated overall wholesale prices softened another 0.28% last week, a reading 12 basis points less than a week earlier. The depreciation reading also was less than half than what analysts said was the average drop registered during the same week in 2017 through 2019.

According to an update on the UAW website, the total number of union members on strike at the Big Three automakers now stands above 40,000, as the strike nears the six-week mark.

“The United Auto Worker (UAW) strike is now entering its second month with no end in sight yet. One thing is for sure though, this is still causing a lot of uncertainty in the market,” Black Book said in the report that also mentioned the estimated average weekly sales rate dropped back to 52% last week.

One trend bucked the overall movements, as Black Book noticed a “surprising uptick” for older trucks. Analysts said prices for 8 to 16-year-old trucks increased 0.14%.

On a volume-weighted basis, Black Book determined overall truck segment values decreased 0.20% last week. That’s less than the previous week’s drop, which was 0.32%.

Going conversely than their older contemporaries, analysts said prices for 0 to 2-year-old trucks declined 0.26% on average last week.

Black Book said values in only one of the 13 truck segments moved higher, as prices for midsize crossovers increased 0.09% a week ago, representing the third time in the past five weeks those units ticked higher.

In what analysts noted as a possible connection to the UAW strike, full-size crossover/SUVs posted the largest depreciation reading last week, sliding by 0.38%. But that’s much less than what Black Book spotted previously. Analysts said during the five weeks before the start of the strike, the segment was generating declines exceeding 1% each week.

Again on a volume-weighted basis, Black Book indicated overall car values decreased 0.46% last week, almost the exact same reading as a week earlier when they dropped 0.47%.

Unlike trucks, car prices declined at nearly the same rate no matter the age. Black Book said prices for 0- to 2-year-old car softened by 0.45%, while values for 8- to 16-year-old cars declined 0.40%.

Analysts determined prices in all nine car segments decreased last week, with subcompact cars leading the way with a decrease of 1.04%. That’s 37 basis points more than a week earlier.

Black Book added that prices for compact cars now have declined for two straight weeks, sliding by 0.25%. Prices for premium sporty cars also decreased by 0.21%, according to analysts.

Black Book closed its update with these thoughts.

“Market observations compared to earlier during the strike show auction inventory has leveled off the past two weeks while the overall market declines slowed,” analysts said. “Is this a positive sign for the upcoming week?

“As always, we have our team of analysts focused on keeping their eyes on the market, watching for developing trends and gathering insights,” Black Book went on to say.