As gas prices rise, small cars are continuing to perform well at auction, according to Black Book’s April 23 Market Insights report.
Overall, average car segment wholesale values increased 0.29% last week, compared to a 0.15% rise the week before. Compact, mid-size, and full-size cars were the best-performing vehicles within the car segment, as their values rose 0.56%, 0.57%, and 0.42%, respectively, through the week.
“Compact cars see continued strength in the market, helped by rising gasoline prices. Their values have increased by over 3% in the last six weeks,” said Anil Goyal, executive vice president, operations for Black Book.
Overall truck segment values also held strong last week; overall truck segment values depreciated by 0.04% last week, compared to 0.16% depreciation the week before. Subcompact and compact crossovers/SUVs were two of the strongest performing segments, as their respective values rose 0.23% and 0.08%. Small pickups, compact vans, and minivans also saw their average wholesale values rise through the week.
The two weakest performing truck segments last week were compact luxury crossovers/SUVs and mid-size luxury crossovers/SUVs.