High-end luxury and sports cars led depreciation last week, according to Black Book’s Oct. 3 Market Insights report.
At a depreciation rate of 0.94%, prestige luxury cars experienced the biggest drop in average wholesale value among all cars compared to the week before. Premium sporty cars posted the second-highest decline at 0.83%.
Small cars, such as subcompact, compact, and mid-size cars experienced the lowest depreciation among all cars at 0.27%, 0.24% and 0.11%, respectively.
Overall, volume-weighted car segment values decreased by 0.38% last week, compared to 0.19% the previous week. Last week posted a noticeably lower depreciation rate; however, this was fueled by inflated bidding in Texas from buyers looking for replacement vehicles.
“Depreciation was steep on luxury cars and sporty cars while smaller cars, SUVs and pickup trucks held their values relatively well last week,” said Anil Goyal, senior vice president of automotive valuation and analytics for Black Book.
Volume-weighted, overall truck segment values decreased by 0.17% last week, compared to 0.10% the week before. The best performing vehicles within this segment were subcompact crossovers, compact vans, and small pickups, which saw values rise 0.12%, 0.08%, and 0.01%, respectively.
Full-size luxury crossover/SUVs and minivans posted the biggest weekly drop in value at 0.43% and 0.46%, respectively.