As gas prices continue to decline, smaller vehicles — in both the car and truck segments — have also seen an accelerated rate of depreciation, according to Black Book’s June 19 Market Insights report.
In the car segment, the highest rates of depreciation came from sub-compact and mid-size cars at 0.68% and 0.53%, respectively. In the truck segment, sub-compact luxury crossovers depreciated 0.89% and compact vans depreciated by 0.75%, the most out of all vehicles the firm tracks.
“The smallest vehicles, including sub-compact car, sub-compact crossover, and sub-compact luxury crossover, have experienced heavier depreciation levels as gas prices remain low,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Larger vehicles, such as mid-size cars, full size vans, small pickups, and full-size pickups performed better, comparatively. Respectively, the vehicles saw average wholesale values go down by 0.30%, increase by 0.13%, increase by 0.05%, and decrease by 0.04%.
Volume-weighted, the overall car segment saw values decrease by 0.35% last week, compared to the average weekly decrease of 0.39% over the last four weeks, according to Black Book. Meanwhile, the truck segment saw values decrease by 0.23%, compared to 0.24% over the last four weeks.