Depreciation for used cars and trucks saw a slight uptick during the week of Nov. 11, which may have been the result of Thanksgiving shopping activity, and sub-compact crossovers had the highest wholesale values in both segments by staying flat.
Overall cars depreciated 0.56%, lower than the rate of 0.62% seen in the previous four weeks. Meanwhile, trucks depreciated 0.31%, which was lower than the 0.59% seen in the previous four weeks, according to Black Book's Nov. 29 Market Insights report.
“Steeper declines, typical in the fourth quarter, continue across all segments. Sporty cars experienced the most, driven by seasonality,” said Anil Goyal, SVP, automotive valuation and analytics.
For cars, sub-compact car, near luxury car and mid-size car segments declined the most during the week by 1.22%, 1.00%, and 0.74% respectively. For truck segments, compact luxury crossover/SUV, mid-size luxury crossover/SUV, and compact van segments declined the most by 0.71%, 0.52%, and 0.49% respectively.