After a few weeks of rising depreciation, truck and car depreciation appears to be stabilizing, according to Black Book’s Jan. 29 Market Insights report.
Overall, average wholesale car values declined by 0.58% last week, compared to 0.76% the week before. In the truck segment, overall values declined by 0.46% through the same period, compared to 0.48% the week before.
Within the car segment, luxury cars experienced the highest depreciation, with average wholesale values falling 0.93%. Meanwhile, mid-size cars saw the lowest depreciation, with values falling 0.13%.
Among trucks, a number of truck segments saw minimal depreciation through last week. Subcompact crossovers/SUVs, minivans, and full-size saw values fall by 0.07%, 0.05%, and 0.08%, respectively. With average wholesale values falling 1.89% last week, compact vans experienced the highest depreciation among trucks and cars.
“Lower mileage trucks and SUVs continue to be in demand. We are seeing consignors holding out for more money on their units to drive up prices,” said Anil Goyal, executive vice president, operations for Black Book.