Car and truck segments depreciated at nearly the same percentage this past week, according to Black Book Market Insights report.
Cars saw heavier depreciation at the same time last year, while trucks retained more value.
“The used vehicle values continue to depreciate at a normal rate at this time of the year with truck segments continuing to perform better than car segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics.
According to the report, here are other key stats:
- Volume-weighted, overall car values decreased 0.39% last week. For comparison, last year the overall depreciation rate was -0.43% at week 28.
- The Compact Car segment received the highest weekly depreciation rate at -0.69%. The Luxury segment declined 0.52%, followed closely by Sub-compact and Mid-size segments at -0.46%.
- Volume-weighted, overall truck values decreased 0.37% last week. For comparison, last year the overall depreciation rate was at -0.34% at week 28.
- The Compact Luxury and Full-size Luxury CXU/SUV segments received the highest weekly depreciation rates at -0.96% and -0.92%, respectively. This was also their highest weekly decline this year.