Trucks depreciated higher than cars for the first time this year, with truck values posting a decrease of 0.68% on a volume-weighted basis while overall car values decreased by 0.56%.
Overall car values maintained the same rate recorded in the previous four weeks, while the values reported for trucks were higher than the average depreciation rate of 0.47% seen in the previous four weeks, according to Black Book's Dec. 6 Market Insights report.
“So far this year, light trucks have performed better than the car segments in value retentions,” said Anil Goyal, senior vice president of automotive valuation and analytics for Black Book. “However, last week we saw a different trend with larger drops in truck segments.”
In car segments, prestige luxury cars, sporty cars, and full-size cars declined the most, dropping by 0.99%, 0.97%, and 0.89% respectively. In truck segments, full-size crossovers/SUVs, minivans, and full-size vans declined the most, dropping by 0.9%, 0.82%, and 0.77% respectively.
“Overall, depreciation was 2.3% in November. Although crossovers and SUVs have done well, the smallest versions of this segment have underperformed,” the firm stated in its report. “Subcompact luxury and mainstream crossovers experienced the most depreciation last month at 3.5% or higher.”