Wholesale depreciation inched upward last week, as mid-size cars and luxury vehicles continue to see their prices at auction fall, according to Black Book’s June 11 Market Insights report.
Overall, average wholesale car values dropped by 0.24% last week, compared to 0.21% the week before. Overall, truck values dropped by 0.17%, compared to 0.10% the week prior.
In the car segment, mid-size cars experienced the highest depreciation at 0.55%. Meanwhile, sporty and premium sporty cars saw a boost in values, growing 0.38% and 0.17%, compared to the week before. The gain in value those segments experienced were not enough to offset, the declines from the rest of the car segments.
In the truck segment, subcompact luxury crossovers/SUVs experienced the highest depreciation, as average wholesale values fell 0.60% from the week before. Compact vans, on the other hand, had the best week among all vehicle segments, as the segment saw wholesale prices rise 0.82% from the week before.
“The used vehicle prices are dropping faster as we enter the summer lull with increasing no-sales in the auction lanes,” noted Anil Goyal, executive vice president, operations for Black Book.