Used vehicle values continued to decline at the start of the new year, pushing sales rates at auction up, but moving prices down, according to Black Book’s Jan. 14 Market Insights report.
Overall, car segment values decreased 0.74% last week, compared to 0.69% the week before. Overall, truck segment values decreased 0.75% last week, compared to 0.54% the week before.
Depreciation was fairly uniform across the board in the car segment. The highest depreciation through last week came from luxury and sporty cars, at 0.91% for both car segments. Premium sporty cars experienced the lowest depreciation at 0.54%.
Many vehicles in the truck segment saw higher depreciation than their car counterparts. The performance of crossovers, in particular, last week may be an indication that the volume of subcompact crossovers at auction may be swelling.
Depreciation for the segment came in at 1.65% last week, the highest among all vehicles. Compact crossovers, midsize luxury crossovers/SUVs, and small pickups also realized comparatively high depreciation at 1.01%, 1.04%, and 0.98%, respectively.
Compact Vans realized the lowest depreciation among all vehicles, at 0.01%.