Continuing last weeks trend, the depreciation rate for car and truck segments slowed down during the week of Nov. 4, and prestige luxury cars continued to lead cars with the lowest wholesale values of the segment. New to this week, however, were compact vans showing the lowest wholesale values across both segments with a 2.18% drop, which were flat the previous week.
Overall car segment values decreased by 0.46% in the week of Nov. 4, which was lower than the 0.70% rate recorded in the previous four weeks. Meanwhile, in the truck segment, values decreased by 0.34%, which was slightly lower than the 0.58% rate recorded in the past four weeks, according to Black Book's Nov. 15 Market Insights report.
“Depreciation rate slows from steeper declines seen at the start of the quarter. Smaller cars continue to show larger depreciation as opposed to larger crossover/SUVs,” said Anil Goyal, senior vice president of automotive valuation and analytics.
In the car segment, sub-compact cars also realized a steep decline in wholesale values. The average wholesale value for prestige luxury cars declined by 0.87%, which was higher than 1.03% reported the week before. Values for sub-compact cars also dipped, showing 0.68% compared to the 0.76% reported the prior week.
Most vehicles in the truck segment saw depreciation rates that ranged from 0.21% to 0.77%, with the exception of compact vans.