Vehicle values were stable last week. Seasonal trends and lower demand have accelerated depreciation higher than where it’s been for most of the year, but this recent week represented an improvement over the market’s performance two weeks ago, according to Black Book’s Nov. 26 Market Insights report.
Overall, car segment values decreased by 0.41% last week, compared to 0.69% the week before. Overall, truck values decreased by 0.23% last week, compared to 0.53% the week before.
Full-size and near luxury cars posted the biggest losses during the week at 0.77% and 0.71% depreciation, respectively. Meanwhile, subcompact cars posted the car segment’s best performance, showing no depreciation over the previous week.
Within the truck segment, minivans and full-size pickups experienced the steepest depreciation, at 0.40% and 0.38%, respectively.
Subcompact luxury crossovers/SUVs and compact vans experienced the lowest depreciation among trucks, remaining essentially unchanged from the week prior.
“Used vehicle values were stable with the abbreviated auction schedules last week, and most auto auctions experienced lower demand,” said Anil Goyal, executive vice president, operations at Black Book.