Used vehicle values remained stable last week, as values continue to normalize from unusually strong levels earlier this year, according to Black Book’s Oct. 22 Market Insights report.
Overall, car segment values were down 0.44% last week, compared to a 0.54% decline the week prior. Truck segment values were down 0.39% last week, compared to 0.37% the week prior.
Full-size cars and near luxury cars led depreciation within the car segment at 0.74% and 0.81%, respectively. Sporty, mid-size, and compact cars realized the lowest depreciation among cars at 0.07%, 0.30%, and 0.32%, respectively.
Three truck segments saw particularly low depreciation last week. Subcompact crossovers/SUVs, subcompact luxury crossovers/SUVs, and minivans experienced a 0.07%, 0.05%, and 0.05% week-over-week decline in wholesale value. Meanwhile, compact crossovers/SUVs and mid-size crossovers/SUVs experienced the highest depreciation among trucks at 0.54% and 0.57%, respectively.
“Used vehicle values are finally experiencing normal depreciation trends for this time of the year, after being unusually strong since spring,” said Anil Goyal, executive vice president, operations for Black Book.