Used vehicles from the 2011 to 2015 model years depreciated 2.3% in September, a slight decrease over August's 2.4% depreciation rate, reports Black Book.
Car and truck depreciation values remained steady compared to the previous month. The car segment overall depreciation iss 2.6%, a 0.5% decline from September. Conversely, trucks depreciated by 2.0%, a 0.2% increase from the month before.
Sporty cars and prestige luxury cars saw the highest depreciation during September, both at a rate of 3.7%, with the latter segment showing the largest percentage increase in depreciation between the two, having been 2.2% in August.
Vehicles in both the sporty car and prestige luxury car segment finished the month with the respective average price of $14,398, which are both a 17.5% decline from year ago levels.
Cars overall saw lower retention in September, ending the month at 2.6% compared to 1.8% in August. Trucks finished at 2.0% in September, and all vehicles are currently averaging a 12-month depreciation change of 16.6%.
“This past month all segments seemed to have retained their values slightly better than they did the previous month,” said Anil Goyal, Senior Vice President of Automotive Valuation and Analytics. “This is likely due to typical market fluctuation, however it appears as though some truck segments are beginning to feel more depreciation than in recent months.”
Sub-compact luxury CUVs saw the strongest retention during August at 1.2%. Vehicles in this segment include the Audi Q3, BMW X1, Mercedes-Benz GLA Class, and the Mini Cooper Countryman. Vehicles in this segment finished the month with an average price of $19,557 a 17.8% decline from a year ago.
There were eight other segments besides sub-compact luxury Ccrs that saw a retention rate of 1.9% or above, including full-size pickups, compact crossovers, mid-size luxury CUV/SUVs, sub-compact cars, full-size luxury CUV/SUVs, compact luxury CUV/SUVs, small pickup, and sub-compact crossovers.