Average wholesale values continued their downward trend last week, as the spring market has come to an end, according to Black Book’s May 15 Market Insights report.
“Spring market buying appears to have slowed as market values continue their slide with normal depreciation across most segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics.
Volume-weighted, overall car segment values decreased by 0.25% last week, compared to the weekly increase of 0.06% over the previous six weeks. Volume-weighted, overall truck segment values decreased by 0.20%, compared to a nearly flat market through the previous six weeks.
The best-performing vehicles in the car segment were premium sporty cars, which saw average wholesale values rise by 0.09% compared to the week before. The worst-performing vehicles were mid-size cars and prestige luxury cars, which saw values fall by 0.49% and 0.55%, respectively.
In the truck segment, the compact van continued to show strength, with average wholesale values rising 0.24% compared to the week before. Compact crossover/SUVs and full-size luxury crossover/SUVs saw the highest levels of depreciation with values falling 0.37% and 0.34%, respectively.