Volume-weighted, overall car and truck segments both experienced continued softening in values, with the overall market decreasing by 0.60% this past week (compared to 0.52% the prior week), according to Black Book’s weekly market update.
Car segment values, overall, decreased 0.78% over the last week, a slight increase in depreciation from the 0.74% decrease experienced the week prior.
The sub-compact, compact, and mid-size segments continue to experience the largest car depreciations each week, according to Black Book. Compact cars declined 1.14% this past week as compared to 1.62% the week prior.
When volume-weighting is applied, the overall truck segment (including pickups, SUVs, and vans) values declined 0.50% last week, an increase in depreciation compared to the previous week decrease of 0.39%.
As with the car segments, fuel-efficient segments are losing value the fastest. Sub-compact and compact crossovers both had declines this past week exceeding a negative 0.85%, Black Book said. Minivans are also experiencing consistent week-over-week declines that are typical for this time of year as rental companies’ de-fleet and retail demand softens.