Volume-weighted, overall car and truck segments both experienced continued softening in values to round out the last full week of 2020, though the rate of decline decreased compared to the prior week, according to the latest Black Book market update.
The overall market decreased by 0.45% this past week, compared to 0.58% the prior week, with wholesale values slightly higher than seasonal norms of the last three years, which has averaged around closer to negative 0.60%, between 2017 - 2019.
As for specifics, volume-weighted, overall car segment values declined 0.62%, a decrease from the depreciation of 0.72% experienced the week prior.
Compact cars continue to be on a downward slide. This now marks eighteen straight weeks of declines for an average of 0.92% per week. Sporty cars and luxury cars also had large declines this past week, both exceeding 0.70%
The surprise throughout the pandemic has been the stability of the premium sporty car segment, which continued to have relatively low depreciation this past week at only 0.17%.
When volume-weighting is applied, the overall truck segment (including pickups, SUVs, and vans) values declined 0.35% last week, a decrease in depreciation compared to the previous week’s change of 0.50%.
Minivans have consistently been leading the declines each week and this past week was no different. This marks the sixteenth week of declines for an average depreciation of 0.72% per week.
With heavy incentives on full-size trucks, the values have been experiencing consistent weekly depreciation. This past week the segment declined 0.40%, compared to 0.38% the week prior.