Pickups Show Lowest January Depreciation
Photo of 2015 Chevrolet Colorado courtesy of GM.
Small and large pickups were among the top performing segments in January with a 1.1% depreciation rate among two- to six-year-old vehicles sold in auction lanes, according to Black Book's monthly report.
Other top segments included full-size SUVs and mid-size cars, which also lost 1.1% of their value during the month. All segments depreciated 1.5% with trucks outpacing passenger cars at 1.4% compared to 1.8%.
Small pickups such as the Chevrolet Colorado, GMC Canyon, Honda Ridgeline, Nissan Frontier, and Toyota Tacoma sold for an average price of $18,734. The category fell 7.9% in value in the past year.
Luxury vehicles continued their weakness and showed the highest depreciation in categories such as prestige luxury cars (down 2.8% to $35,654), premium sporty cars (2.8% to $39,501), near luxury cars (2.4% to $15,821), luxury cars (2.3% to $19,861), compact luxury SUVs (2.2% to $21,367), and mid-size luxury SUVs (2% to $22,768).
"Vehicle retention values remained relatively strong in January heading into the spring selling season," said Anil Goyal, senior vice president of automotive valuation and analytics. "It is interesting that luxury vehicles are showing higher depreciation than mainstream brand vehicles across vehicle segments."
Compact vans were among the highest-depreciating vehicles over the past year, falling 24.4% ($9,803) since Feb. 1, 2016. Other year-over-year high declining categories included prestige luxury cars (25.4%), subcompact cars (23.7% to $6,160), luxury cars (23.3%), near luxury cars (22.6%), subcompact crossovers (20.4% to $10,480), and compact cars (20.1% to $8,006).
Black Book averages the values of vehicles from the 2011 to 2015 model years sold at auctions.