Overall Used-Vehicle Values Up
Values on used cars improved overall over the past week, with the average segment change being -$61, the lowest decline in the past 10 weeks all the way back to the week ending Aug.10, according to Black Book.
"For the first time I can remember, without digging too far back in the historical archives of data, the near-luxury cars had the smallest dollar declining amount of only -$18," reported Ricky Beggs, VP and managing editor. "There is nothing to indicate a changing pattern of slower depreciation is taking hold here. Entry midsize cars at -$23 had their best, or smallest, depreciation weekly change in over three months."
The truck segments, which had an average segment change of -$52, are gradually falling more.
"This is the first time in the past seven weeks where none of the truck segments had a positive week-over-week change," Beggs noted.
Midsize pickups had the best strength with only a -$7 decline for the week. A couple of segments used primarily in the service industries were the full-size cargo vans and the cargo minivans, with market changes at -$8 and -$14 respectively.
Full-size cargo vans are averaging a -$17 change over the past six weeks, a pretty solid level of retention. Only the compact pickups at -$29 this past week have a better six-week average change, primarily due to three weeks of weekly increasing values.