As summer picks up steam, so does the depreciation of just about every car segment with the exception of Premium Sporty Cars, which have outperformed the average car for eight straight weeks, whereas trucks are “defying” seasonal patterns by holding strong through the early summer weeks, according to Black Book.
“Continued softness is expected during summer months as buyers are pushing prices down on volume-heavy car segments,” said Anil Goyal, VP of Automotive Valuation and Analytics at Black Book.
This past week, volume-weighted, overall car values decreased by 0.53 percent vs. -0.48 percent same time last year. All segments declined by more than a quarter percent in value, led by Entry Level and Entry Mid-size segments at -0.82 percent and -0.81 percent, respectively.
The Premium Sporty segment has outperformed the overall car average for eight straight weeks and Entry Level Cars have underperformed for 11 straight weeks, according to Black Book.
Since May 1, cars have declined by a cumulative 3.8 percent while trucks have only declined by 1 percent. Volume-weighted, overall truck values decreased by 0.22 percent this past week, vs. -0.25 percent same time last year. Finally, compact and mid-size pickup segments increased by 0.26 percent and the compact SUV segment by 0.16 percent.