Overall car and truck segments reported better week-over-week retention, according to Black Book’s Aug. 7 Market Insights report.
Car values declined by 0.46%, compared to 0.54% the previous week, while truck values declined by 0.28%, compared to 0.32% the previous week, the firm noted.
“Mixed reactions noted in the auto auctions across the nation as the market tries to find direction going forward after a resilient performance in the first two quarters,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Compact and mid-sized cars experienced the highest depreciation last week at 0.70% and .075%, respectively. Full-sized and near luxury cars saw their respective average wholesale values decline by 0.12%, the smallest drop among all cars.
The full-size pickup segment saw its average wholesale value increase by 0.08% over the previous week, continuing the strong performance it’s had for most of the year. Meanwhile, the subcompact crossover experienced a 1.23% drop in wholesale value, not only the highest among all vehicles, but also one of the steepest drops the segment has seen all year.