Average wholesale vehicle values continue their December decline, with subcompact cars and subcompact crossovers leading the pack in their respective segments last week, according to Black Book’s Dec. 18 Market Insights report.
Overall car segment values declined 0.68% last week, compared to 0.64% the week before. The highest depreciation came from subcompact cars, which depreciated 1.19% last week.
Mid-size and sporty cars also saw high depreciation during the week, depreciating 0.97% and 1.02%, respectively. Near luxury and prestige luxury cars saw the lowest weekly depreciation last week at 0.26% and 0.32%, respectively.
Overall truck segment values declined by 0.62%, compared to 0.65% the week before. The highest depreciation came from smaller vehicles in their segment, such as subcompact crossovers, compact vans, and small pickups.
These segments depreciated by 1.31%, 1.30%, and 1.30%, respectively.
Similar to the car segment, luxury truck models saw the lowest depreciation last week, with compact luxury, mid-size luxury, and full-size luxury crossovers/SUV values declining by 0.20%, 0.06%, and 0.29%, respectively.
“It’s a typical December performance for used vehicle value trends as broad market declines continue,” said Anil Goyal, senior vice president of automotive valuation and analytics at Black Book.