According to Black Book, remarketing activity has continued its steady pace as we head into the final weeks of summer, with dealer sentiment around the country remarking on a steady flow of sales especially for trucks.
Compact cars have continued to struggle with gasoline prices dropping to $2.637 on the week. Entry mid-size cars actually showed a slight increase this past week, while luxury level cars also showed a significant price decline, according to Black Book.
“Market trends continue to show large declines for compact cars while full-size pickups and SUVs hold their values. Full-size vans have now started to drop in value after defying gravity for several months,” said Anil Goyal, VP of Automotive Valuation and Analytics for Black Book.
Overall, the volume-weighted car values decreased by 0.39 percent last week. This is slightly lower than the depreciation rate seen in the previous 4 weeks. Entry Mid-Size Cars increased slightly by 0.13 percent while all other car segments declined in value last week. Compact Cars and Luxury Level Cars saw the biggest drops at 0.78 percent.
Overall, the volume-weighted truck values decreased by 0.24 percent last week. This is a little higher than the average depreciation rate seen in the previous four weeks. Full Size Vans have been one of the strongest performing segments in recent months; however, this segment had the highest depreciation last week.