Average wholesale car and truck values saw little depreciation last week due to increased lane activity as a result of the recent hurricanes, according to Black Book’s Sept. 25 Market Insights report.
While both segments have yielded lower depreciation, the bigger effect has come to the car segment. Volume-weighted, overall car values decreased by 0.19% last week, compare this to 0.48% the week before and 0.42% over the past four weeks.
For the truck segment, values decreased by 0.10%, compared to 0.06% the week before and 0.19% over the past four weeks.
“Nearly all segments besides luxury vehicles and sporty cars performed well last week as buyers from Texas bid up prices to acquire replacement vehicles,” said Anil Goyal senior vice president of automotive valuation and analytics.
Compact cars were, far and away, the best-performing vehicles in the car segment last week, with their average wholesale value up 0.21%, according to Black Book. Sporty cars were the weakest performing segment, with average wholesale values falling 0.63%.
Subcompact and compact crossovers/SUVs continued to show the same strength that they did last week, with values of the segments rising 0.46% and 0.39%, respectively. Meanwhile, luxury crossovers have not seen the same success as their mainstream counterparts. The weakest performing vehicles in the truck segment last week were compact and mid-size luxury crossovers / SUVs.
Those two segments, according to Black Book, saw average wholesale values fall 0.64% and 0.77% last week, the steepest falls among all cars and trucks.
Originally posted on Auto Rental News