As the market approaches the tail end of the spring season, wholesale values for both cars and trucks are on the decline, according to Black Book’s May 22 Market Insights Report.
“After a short spring season when the values of small cars rose, subcompact and compact car segments are starting to see a decline. There is now anxiety among buyers about paying too much in the auction lanes,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Volume-weighted, overall car segment values decreased by 0.36%, compared to 0.25% the previous week. For the overall truck segment, values decreased by 0.47%, compared to 0.20% the previous week.
The best-performing cars were sporty cars and premium sporty cars, which saw a 0.01% rise in value and a 0.07% decline in value, respectively. The worst performing vehicles in the car segment were mid-size cars, subcompact cars, and compact cars, dropping 0.66%, 0.47%, and 0.44%, respectively.
In the truck segment, the best-performing vehicles were sub-compact crossovers and compact vans, which saw a 0.08% rise in value and 0.05% fall in value, respectively. On the other side of the spectrum, subcompact luxury crossovers and compact luxury crossovers/SUVs were the worst-performing vehicles, falling 1.28% and 0.90% compared to the previous week, respectively.
Originally posted on Auto Rental News