Average wholesale values saw little change last week compared to the week before it, with depreciation falling in both the car and truck segment, according to Black Book’s Oct. 30 Market Insights report.
Volume-weighted, the overall car segment saw a depreciation rate of 0.37%, compared to 0.38% the week before. The truck segment saw a depreciation rate of 0.21%, compared to 0.25% the week before.
“Used vehicle prices and sale conversion rates at the auctions hold firm. Post hurricane sales activity continues but is slowing down in the Houston region,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics.
In the car segment, the full-size and prestige luxury cars saw the highest depreciation, both seeing their average wholesale values fall by 0.69% compared to the week before. The compact car segment saw the smallest drop in value among all cars, with the segment’s value falling by 0.09% during the week.
Compact vans were far and away the best-performing vehicle at auctions last week, according to Black Book data. Average wholesale compact van values were up 0.40% compared to the week before, the highest among all vehicles. Meanwhile, the slightly larger counterpart, the minivan segment, realized the biggest drop in value, with a fall of 0.60% compared to the week before.
Originally posted on Auto Rental News