After several weeks of relatively stable average wholesale values, the car segment realized a sharp decline in wholesale values last week, according to Black Book’s July 31 Market Insights report.
Mid-size, full-size, prestige luxury, and sporty cars led the car segment in depreciation, realizing the highest depreciation rates among all cars tracked by Black Book at 0.65%, 0.64%, 0.63%, and 0.65%, respectively.
“Car values dropped sharply in the last week of July,” said Anil Goyal, senior vice president of automotive valuation and analytics. “It was the highest depreciation in car segments in 20 weeks.”
Volume-weighted, overall car segment values decreased by 0.54% last week. Meanwhile, overall truck segment saw values declined 0.32%.
Small pickups, a segment that has seen low levels of depreciation for most of the year, realized a depreciation rate of 0.64% last week, the highest among all trucks. Alternatively, the larger full-size pickup segment saw the lowest depreciation rate among trucks at 0.06%.