Cars and trucks saw a healthy seasonal boost in wholesale performance last week, according to Black Book’s March 27 Market Insights report. Depreciation among light trucks was at one of the lowest levels seen all year, and the overall car segment saw wholesale values appreciate.
In fact, various vehicles across both the car and truck segments saw average wholesale values appreciate last week, according to Black Book data.
“The typical spring market lift was evident last week, with most vehicle segments performing well. Increased demand for compact and mid-size cars drove values higher,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Compact cars, mid-size cars, sporty cars, and premium sporty experienced an increase to average wholesale value. These vehicles saw average wholesale values increase by 0.57%, 0.45%, 0.07%, and 0.03%.
Overall, and volume-weighted, car segment values increased by 0.21% last week, compared to the 0.31% decline in value the segment realized the week before. As has been the case for much of the year, the worst-performing segment among cars last week was the prestige luxury car segment, which depreciated by 0.58%.
Volume-weighted, overall truck segment values decreased by 0.12% last week, compared to a decline of 0.43% the week before. Subcompact crossovers were the worst performers during the week, depreciating by 0.89%. Compact vans, full-size vans, and full-size pickups were the best performers for the truck segment, appreciating by 0.37%, 0.06% and 0.01%.
Originally posted on Auto Rental News