Car values were up for the second month in a row last week, however, the segment's wholesale values show signs of leveling off, according to Black Book’s May 7 Market Insights report.
Overall, car segment values were up 0.05% last week, compared to an increase of 0.24% the week before. Subcompact, compact, mid-size, full-size, near luxury, and sporty cars all saw their values rise through the period while luxury, prestige luxury, and premium sporty cars saw declines.
Mid-size and near-luxury cars experienced the largest growth in value through the week while prestige luxury cars experienced the largest decline.
Overall truck segment values were down 0.02%, compared to 0.06% the week before. Small pickups and subcompact crossovers had the strongest showings within the segment through the week, seeing their average wholesale values rise 0.28% and 0.25%, respectively. Subcompact luxury crossovers saw the highest depreciation among all vehicles at 0.48%.
“The market is shifting toward neutral as spring seasonality wears off,” said Anil Goyal, executive vice president, operations for Black Book. Non-luxury segments in small crossovers and sedans showed stability last week.”