Car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28, with truck wholesale values decreasing by 0.58% during that week, compared to 0.76% the week before. Meanwhile, car overall wholesale values decreased by 0.53%, compared to 0.80% the previous week, with the segment decrease being led by prestige luxury cars with a 1.03% drop.
These results mark the first time in four weeks that car values have depreciated at a slower rate than truck values, according to Black Book's Nov. 8 Market Insights report.
“Depreciation slowed a little last week after four weeks of steeper declines. However, auction reports continue to show spotty demand and higher no-sales,” said Anil Goyal, senior vice president of automotive valuation and analytics for Black Book.
In the car segment, sub-compact cars and full-size cars also took big hits, falling, 0.76% and 0.75% in average wholesale value, respectively. As for trucks, sub-compact crossover/SUVs and sub-compact luxury crossovers experienced the biggest declines, falling 1.96% and 1.66%, respectively.