The car segment saw a week-over-week rise in depreciation while the truck segment saw a lower depreciation rate last week, according to Black Book’s Aug. 28 Market Insights report.
Overall volume-weighted car segment wholesale values decreased by 0.57% last week, compared to 0.45% the week before. The overall truck segment saw values decline by 0.28%, compared to 0.39% the week prior.
Mid-size cars and luxury cars saw the highest depreciation among cars at 0.87% and 0.82%, respectively. Compact cars saw the lowest depreciation at 0.20% last week.
In the truck segment, small pickups realized the highest depreciation for the week at 0.71%. Subcompact luxury crossovers — a segment that tied for highest depreciation two weeks ago — saw depreciation slow down last week, realizing the lowest depreciation rate among all vehicles of 0.05%.
This trend of higher depreciation among cars and lower depreciation among trucks has been going on since May of this year. Both trucks and cars have seens ups and downs in terms of depreciation, however, weekly depreciation changes have been steeper for the car segment for every weeek since late may, the firm noted.
Another trend that the firm expects will continue as the year concludes is that auctions will continue to vie for clean quality used vehicles with low mileage, especially as the market continues to soften with the advent of the fall season.
Originally posted on Auto Rental News