After leading depreciation in the first week of January, truck segment values saw a small recovery last week, while car segment values continued to decline at a similar pace, according to Black Book’s Jan. 15 Market Insights report.
Overall, truck segment values decreased by 0.39% last week, compared to 0.66% the week before. In the car segment, values decreased by 0.63% last week, compared to 0.57% the week before.
Subcompact cars, full-size cars, and sporty cars realized the highest depreciation among cars during the week at 0.98%, 1.17%, and 0.97%, respectively. Among trucks, subcompact crossovers and full-size vans saw the highest drop in average wholesale value, falling 1.18% and 0.96%, respectively.
“Cars continued to depreciate at a steady rate while most SUV segments did better in the second week of the year. Generally, activity was reported to be slow in the auto auctions,” said Anil Goyal, executive vice president, operations at Black Book.
Luxury models among the truck and car segments saw some of the lowest depreciation during the week.