Sub-Compact Cars faced the heaviest depreciation between the months of May and August, declining 7.4%. This was followed by compact vans, and Luxury Cars, which depreciated by 6.6% and 6.1%, respectively.
Pickups saw the lowest depreciation in that span of time, with less than 1.5%, according to the Aug. 15 Black Book Market Insights report.
The weekly report also found that overall car values continued to face significantly higher depreciation compared with trucks. Luxury Car, Mid-Size Car and Near Luxury Car segments declined the most by 1.32%, 1.09% and 0.93%, respectively. Overall car segments depreciated 0.77%, while truck segments depreciated 0.48%.
“Wholesale values of car segments declined faster, last week, led by luxury cars. Luxury crossover/SUV segments also experienced larger declines,” said Anil Goyal, senior vice president of automotive valuation and analytics.