Most Used-Vehicle Segments Decline at Steady Rate
Chart: Black Book
Most used-vehicle segments are showing a steady rate, according to Black Book's most recent market report. Overall car values decreased by 0.53% during the past week. During the previous four weeks, the average depreciation rate was 0.43%.
While having depreciated slightly over the past 16 weeks, during the same period in 2015, full-size pickups showed a stronger retrention with an increase in value, according to Black Book. Overall truck values decreased by 0.37% during the past week, which nearly matches the previous four-week depreciation rate of 0.35%.
“Luxury car values decreased at a steeper rate than mainstream brand cars, while pickup trucks continue to show retention strength. Several locations reported slower sales and low attendance at auctions,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics.
Luxury cars led the decline in values by 0.85% followed by the near luxury car and sub-compact car segments, declining at 0.79% and 0.77% respectively.
Pickups and the full-size crossover/SUV segments retained good values, according to Black Book.