While average wholesale prices in Houston remain elevated, vehicles throughout the rest of the country saw higher rates of depreciation last week, according to Black Book’s Oct. 16 Market Insights report.
Volume-weighted, overall car segment values declined by 0.50% last week, compared to 0.40% the previous week. Overall truck segment values declined by 0.26% last week, compared to 0.28% the week before.
"Depreciation increased on both cars and light trucks," said Anil Goyal, senior vice president of automotive valuation and analytics. "Car segments saw the highest weekly depreciation in seven weeks; however, prices in the Houston-area market remain elevated."
Luxury cars and premium sporty cars saw the highest depreciation through the week at 0.85% and 0.75%, respectively. The car segment’s best-performing vehicle was the full-size car, which saw its average wholesale value fall by 0.21% last week, the lowest among all cars.
Similarly, luxury vehicles also experienced the highest weekly depreciation within the truck segment. Compact luxury and full-size luxury crossovers/SUVs claimed the highest depreciation among all truck segment vehicles at 0.49% and 0.52%, respectively. Subcompact and mid-size luxury crossovers/SUVs also realized some of the highest depreciation rates among trucks.
Alternatively, two of the best-performing vehicles in the truck segment were subcompact crossovers/SUVs and minivans. Both of these segments saw a week-to-week increase in wholesale value, according to Black Book data. Various other segments, including full-size crossovers/SUVs, full-size vans, and small pickups saw their values remain essentially flat through the week.