This week’s Black Book Market Insights report takes a closer look at how trucks, in particular, have come out of the gate in 2016. Trucks are facing heavier-than-normal depreciation trends while cars have also remained under noticeable price declines. With the exception of a few reports, many dealers feel auction activity has remained light heading into late January, which could spell an interesting spring season.
“After a very strong showing last year, pickup truck values declined at a higher pace than the rest of the market. Car segments continue to show a steady depreciation trend,” said Anil Goyal, Vice President of Automotive Valuation and Analytics for Black Book.
Volume-weighted, overall car values decreased by 0.45 percent last week. This is close to the average depreciation rate of 0.49 percent seen in the previous eight weeks. Car segments that showed the highest declines last week include Prestige Luxury Car, Sporty Car, and Sub-Compact Car and declining by 0.80 percent, 0.61 percent, and 0.61 percent, respectively.
Volume-weighted, overall truck values decreased by 0.69 percent last week. This is higher than the average depreciation rate of 0.47 percent seen in the previous eight weeks. Truck segments that showed the highest declines last week include Full-Size Pickup, Compact Van, and Small Pickup, declining by 0.99 percent, 0.89 percent, and 0.85 percent, respectively.