Wholesale vehicle values saw the heaviest depreciation since January last week, according to Black Book’s Oct. 29 Market Insights report.
This heavy depreciation was in large part driven by rising no-sales at several auto auctions, according to Anil Goyal, executive vice president, operations at Black Book.
Overall, car segment values declined by 0.69% last week, compared to 0.44% the week prior. Overall truck values declined 0.48% last week, compared to 0.39% the week prior.
The worst performers within the car segment were compact cars, mid-size cars, and sporty cars, which saw values fall by 0.90%, 0.83%, and 0.85%, respectively. Full-size cars, on the other hand, had the best performance within the car segment through the week at 0.27% depreciation.
Among trucks, mid-size crossovers/SUVs and small pickups had the worst week at 0.74% and 0.62% respective depreciation. Meanwhile, full-size vans had the best week among all vehicles with a 0.01% improvement to its week-over-week wholesale values; subcompact crossovers were also strong performers at for the week at 0.03% depreciation.