The recent Black Book "Used Car Market Insights" report identified an increasing number of car segments displaying greater week-over-week depreciation from data within the auction lanes.
Near Luxury Cars was the only car segment with a positive increase this past week, registering just +0.04-percent change from the previous week. Trucks, on the other hand, continue to show solid strength in the market, with seven truck segments either unchanged or positive change on the week.
“As anticipated, car values have started to decline after an extended spring season while trucks continue to hold values relatively well,” said Anil Goyal, VP of Automotive Valuation and Analytics.
Overall, the volume-weighted car values decreased by 0.43 percent the week of May 4. The volume-weighted truck values remained stable, increasing by 0.07 percent.
Mid-Size cars showed the largest drops in prices. Upper Mid-Size Car segment showed a decrease of 0.92 percent last week; however, the mainstream hybrid and electric vehicle values are soft as fuel prices remain low. Pickup segment did well in trucks with Compact Pickup increasing by 0.62 percent and Full-Size Pickup increasing by 0.50 percent. Full-size commercial vans with the old body style continue to do well.