Wholesale values saw a heavy decline last week, with sporty cars, minivans, and small pickups leading weekly depreciation, according to Black Book’s Oct. 15 Market Insights report.
Overall, average car wholesale values were down 0.54%, compared to the previous week’s 0.21% decline. On the truck side, average values were down 0.37%, compared to 0.16% the week prior.
Sporty cars realized the heaviest depreciation within the car segment, at 0.91%. Compact, full-size, and luxury cars also saw noticeably higher depreciation. The best weekly retention within the car segment came from subcompact cars, which saw a 0.28% week-over-week decline.
Minivans and small pickups claimed the heaviest depreciation within the truck segment at 0.95% and 0.83%, respectively. Compact vans and full-size vans had the strongest performance through the week, as values remained flat from the previous week.
“The decline in used vehicle values accelerated steeply last week, there was a broad drop in the market, particularly in the car segments,” said Anil Goyal, executive vice president, operations.