Car and truck segment values fell last week by 0.57% and 0.36% respectively in what were significant drops from the prior week, Black Book has announced.
Volume-weighted car values dropped from the 0.92% seen in the previous week and were lower than the average depreciation rate (0.72%) from the previous four weeks. For truck segments, values dropped from the 0.63% from the previous week, and was also lower than the 0.58% seen in the previous four weeks, according to the Oct. 25 Market Insights report.
Among cars, compact car, sporty car and sub-compact car segments declined the most by 1.22%, 1.06% and 0.86%, respectively. Compact van and compact luxury crossover/SUV segments declined the most by 1.65% and 1.32%, respectively.
"Small cars continue to experience higher depreciation levels," said Anil Goyal, senior vice president of automotive valuation and analytics. "Sporty cars have shown high declines in the last four weeks, in line with the seasonal trend."