Used vehicle values were down for the second month in a row in January, according to Black Book's Used Vehicle Retention Index for January.
This back-to-back decline, according to Black Book, may be an indicator of what depreciation might look like in 2019.
"After a strong performance in 2018, the Index has now declined for two straight months. We believe this could be a pre-cursor to a 2019 market that may show slightly larger depreciation overall compared with that in 2018," said Anil Goyal, executive vice president, operations for Black Book.
No particular segment was to blame for January's decline, according to the Index, as values were down across the board for nearly all vehicle segments.
The only two segments to see a gain for the month were compact and midsize cars, which saw values improve by 0.11% and 0.03%, respectively.
January's Used Vehicle Retention Index of 115.4 represented a 0.7% drop from the previous month.