Both cars and trucks saw a noticeable rise in depreciation in the last week, according to Black Book’s Nov. 6 Market Insights report.
Average wholesale values for cars fell by 0.60% last week, compared to 0.37% the week before. For trucks, average wholesale values fell 0.40% last week, compared to 0.21% the week prior.
“Depreciation rates increased on both car and truck segments as buyers became hesitant to load up on inventory,” said Anil Goyal senior vice president of automotive valuation and analytics.
Among cars, full-size and sporty cars led the pack in terms of depreciation, seeing their values fall by 0.94% and 0.82%, respectively. Subcompact cars saw the lowest depreciation throughout the week, with values falling 0.16%.
Meanwhile, smaller vehicles in the truck segment realized the highest depreciation rates. Subcompact crossovers saw their average wholesale values fall by 1.03%, while compact vans saw their values fall by 1.13%, the highest rates among all vehicles through the week.
Mid-size luxury crossovers and full-size vans claimed the lowest depreciation among trucks in the week, with respective values falling by 0.10% and 0.13%.
Originally posted on Auto Rental News