Strong demand for pickups and small cars fueled another week of low depreciation in the wholesale market, noted Black Book’s Aug. 20 Market Insights report.
Overall, cars segment values decreased by 0.11%, compared to 0.2% the week before. In the truck segment, overall values decreased 0.1%, compared to 0.15% the week before.
Subcompact and compact cars experienced the best week among all cars, as the average wholesale values for the segments were up 0.05% and 0.03%, respectively. On the truck side, small pickups and full-size pickups led the pack, as values for small pickups remained flat from the previous week and full-size pickup values were up 0.04% compared to the previous week.
The heaviest depreciation within the car segment came from prestige luxury cars, which experienced a 0.63% drop in value compared to the previous week.
The full-size van segment suffered the big drop in value among trucks, dropping 0.41% week-over-week.
“The overall used vehicle market is doing extremely well, bucking the seasonal trend seen in previous years, said Anil Goyal, executive vice president, operations for Black Book. “This time last year, the weekly drop in values was five times the rate seen today.”