Average wholesale car segment values were down last week, breaking a two month streak of rising car values, according to Black Book’s May 14 Market Insights report.
Overall, car segment values depreciated 0.08% last week, compared to 0.05% rise the week before. Similarly, overall truck segment values were also down 0.08% last week, compared to 0.02% the week prior.
Contrary to the eight weeks prior, nearly all car segment wholesale values were down last week. Only two segments — full-size and sporty — saw higher wholesale values through the week. The steepest depreciation for the week came from compact and mid-size cars.
Within the truck segment, subcompact crossovers, minivans, and compact vans had the strongest performance through the week. Respectively, the segments saw a 0.10%, 0.06%, and 0.97% increase to their wholesale value.
“The spring market season is over as values show mild declines across the board. Mainstream sedans have been in demand in the used market even as sales declined for new sedans,” said Anil Goyal, executive vice president, operations for Black Book.
Related: Car Values Start to Level Off