Many small car segments saw improvements to their average wholesale values through March, however, a dip in values among larger cars resulted in an overall decline to used vehicle values, according to Black Book data.
Average wholesale values for compact cars values were up 1.4% month-over-month, while subcompact car values climbed 0.8%. However, this rise among smaller cars was offset by declines coming from larger vehicles.
From February to March, average wholesale values for full-size crossovers/SUVs declined 1.7%. For compact crossovers, average values fell 0.9%, and 1.2% for full-size pickups.
Black Book’s Used Vehicle Retention Index — which tracks current wholesale vehicle values for 2- to 6-year-old vehicles compared to their MSRP — registered 112.0 in March, representing a 1.2% decline month-over-month, according to the company. A decline within the Index represents an overall decline to used vehicle values.
“We continue to see pockets of increases in the Index, with particular concentration on car segments that have been in demand throughout the spring selling season,” said Anil Goyal, executive vice president, operations. “We’re continuing to keep an eye on evolving trends in truck segments that have shown stable price increases in the recent years, but are now starting to show declines.”